BYD profit slumps 19% after record year edging Tesla off the EV throne

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BYD, the Chinese electric vehicle giant, reported a 19% drop in annual profit for 2025, despite being the world's largest seller of battery electric vehicles. Revenue increased modestly by 3.5%, but the company faces fierce competition and a price war in the domestic market. BYD outsold Tesla significantly in 2025, with 2.25 million vehicles sold compared to Tesla's 1.64 million. Tesla's profits and market share have declined, while BYD is expanding its presence in Europe, achieving a 272% increase in sales in the EU.