BYD is closing in on Tesla after a record December delivered a good 2024 for the Chinese EV giant. The company sold 4.25 million new energy passenger vehicles last year, according to data released on Wednesday.

Tesla rivals BYD, Nio Li Auto, XPeng and Zeekr all reported record December China EV sales as the price war intensified.

China’s BYD Co. enjoyed a year-end surge to push total sales to 4.25 million passenger cars last year, narrowing its gap with Tesla Inc. as the two vie for the crown of top-selling electric-vehicle maker of 2024.

The EV giant sold 1.76 million electric cars in 2024, per figures released on Wednesday, putting it within touching distance of beating Tesla.

China's BYD, however, looks set to close the gap after reporting 1.76 million EV sales in 2024. The Shenzhen-based firm's total vehicle sales jumped more than 41% in 2024, year-on-year, to more than 4.2 million. The surge was powered mainly by sales of its hybrid cars.

Tesla rivals BYD, Nio Li Auto, XPeng and Zeekr all reported record December China EV sales as the price war intensified.

The Chinese automaker BYD, which makes fully electric and hybrid vehicles, just announced record sales for the year.

Tesla's China sales grew 8.8 percent in 2024 to over 6,57,000 units, accounting for 36.7 percent of its deliveries, despite global sales declining by 1.1 percent. BYD delivered 1.76 million EVs globally and expanded exports but missed its target.