The start of 2024 brought a surprising turn for Elon Musk as China's BYD overtakes Tesla as the world's leading electric vehicle (EV) maker, according to a report in The Telegraph. Despite Tesla's impressive record of selling 484,507 vehicles in the third quarter of 2023, marking 20% YoY growth, it fell short of BYD's 526,409 car deliveries during the same period.

Year 2024 has kicked off on a bad note for Elon Musk

For more than eight years, Tesla has held the top position as the premier EV manufacturer, surpassing the Nissan Leaf in 2015. However, China's growing dominance of the battery-powered car market has domestic companies like BYD investing heavily to offer affordable electric vehicles. Toward this change in leadership.

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BYD, run by Warren Buffett's investment vehicle Berkshire Hathaway, has not only achieved the top position in EV sales but has expanded its market presence beyond China, moving to the UK and Europe. The company's determination to outpace its Western counterparts underscores its determination to establish itself as a global force in the electric vehicle industry.

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