advancing the EV leader toward progress in Smart Driving for AII strategy.
China-based automaker BYD shipped 4.27 million electric vehicles (EVs) in 2024, outpacing Tesla's 1.79 million units and maintaining its position as the global EV market leader for the third consecutive year, according to DIGITIMES.
Amid intensifying competition, BYD is expected to strengthen its edge in the EV sector with the launch of its 2025 "Smart Driving for All" strategy, aimed at bringing smart driving technology to more affordable entry-level models.
BYD's EV sales are projected to reach 5.5 million units in 2025, with three million featuring smart driving capabilities, driven by a CNY100 billion (US$13.8 billion) investment in R&D and its highly vertically integrated component supply chain.
BYD leading Tesla in EV sales with gap in 2024 doubled on year
BYD to further expand gap with Tesla in 2025 thanks to new strategy
Chart 3: BYD and Tesla cumulative smart driving vehicle sales, 2024-2025 (k units)
BYD invests heavily in smart driving tech deployment and R&D
BYD expands adoption of smart driving system to economy models
BYD capable of making automotive components, leading in China's competition
Chart 7: Chinese auto component maker competitiveness ranking and business coverage (point)
Huge key component procurement and high vertical integration help BYD lower costs
BYD high shareholding in subsidiaries allows broad business coverage and comprehensive deployment
Chart 9: BYD major smart driving subsidiaries, shareholding, business coverage
As second-largest power battery supplier, BYD fully adopts in-house batteries for vehicles
Chart 10: Global power battery installation volumes by top-10 players, 2023-2024 (GWh)
Chart 11: Summary of BYD smart driving tech strategy and deployment
