BYD Surpassed Tesla in the UK Electric Vehicle Market

Chinese automaker BYD Co Ltd-H (HK:1211) has rapidly gained a sales advantage against Tesla Inc (NASDAQ:TSLA) in the UK, one of Europe’s largest electric vehicle markets.

According to data released by the UK automotive trade group on Wednesday, BYD registered nearly seven times more new vehicles than Tesla in October. This situation significantly demonstrates the company’s increased presence in the British market. Year-to-date registered sales have risen by more than 600%, reaching 39,103 vehicles.

On the other hand, Tesla experienced a decline in its performance in the UK, with sales down 4.5% this year to 35,455 units. These figures highlight BYD's rapid expansion in the European electric vehicle market and showcase the company’s ability to compete with Elon Musk's firm.