BYD saw a 235.2% increase in registrations in the EU in November, while Tesla’s fell 34.2%. BYD’s registrations for the year rose 240% to 110,715, surpassing Tesla’s 38.8% decline to the same number. BYD also sells more electric vehicles globally and leads in China.

BYD is expanding in Europe with plans for assembly plants, considering a factory in Spain. It already has plants in Hungary and Turkey. BYD’s strong position in China, with a 25% market share, helps its finances. The company is also exporting to South America.

BYD won’t sell vehicles in the US due to a 100% tariff on Chinese EVs. GM and Ford are aware of the threat if these tariffs are lifted. BYD’s success in Europe shows its ability to quickly enter new markets and grow its presence.

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Read more at Yahoo Finance: BYD’s European Sales Soar 235%