Chinese automaker BYD reported annual revenue of 777 billion yuan ($107 billion) for 2024, leapfrogging U.S. rival Tesla as competition between the two electric vehicle rivals heats up.

The Chinese automaker BYD is increasingly a thorn in Tesla's side, selling more EVs in 2024 and recently crossing the $100 billion mark.

A sharp decline in overall sales in major markets including Germany and Italy dragged down the numbers of newly registered cars in the EU. However, EVs are distinctly increasing their market share in the bloc,

Getting back to all-electric vehicles, they now account for 15.2% of the total market share in the EU, up from last year’s 11.5%. Meanwhile, Tesla’s total market share in February went from 2.8% last year to 1.8% this year, while its grasp on the European EV segment slipped from 21.6% in 2024 to 10.3% this year.

Tesla stock is up 25% over the past week, with the biggest boost coming after an all-hands meeting at the company that conveyed the sense that Musk is “back in the building," with the CEO issuing a sermon to reassure his shareholding faithful.

Sales of vehicles made by Elon Musk's Tesla plummeted in the first two months of 2025 in the European Union (EU), industry group The European Automobile Manufacturers' Association (ACEA) said on Tuesday morning.

Christopher Tsai has held Tesla Inc. shares since February 2020. With the stock having gained sixfold since then, he is hoping Elon Musk cuts short his time at “DOGE.”