The electric vehicle (EV) industry has rapidly transformed over the past decade, with two companies emerging as the primary titans of the sector: BYD and Tesla. While Tesla helped shape the global EV narrative with its high-performance, tech-driven cars, China’s BYD has steadily scaled its presence by offering a broad lineup of affordable and sustainable vehicles. So, in 2025, the question stands: Who is truly leading the EV race?
Origins and Growth
BYD (Build Your Dreams) was founded in 1995 by Wang Chuanfu, initially producing rechargeable batteries for mobile phones. It entered the auto industry in 2003 and released its first plug-in hybrid in 2008. Over the years, BYD has evolved into the world’s largest manufacturer of new energy vehicles (NEVs), which include battery electric vehicles (BEVs) and plug-in hybrids.
Tesla, founded in 2003 by engineers Martin Eberhard and Marc Tarpenning, rose to global prominence under Elon Musk. It launched its first vehicle, the Roadster, in 2008, followed by the luxury Model S, SUV Model X, and mass-market Model 3 and Model Y. Tesla positioned itself as a clean energy company, pioneering innovation in EVs, solar energy, and battery storage.
Global Footprint
Tesla maintains a dominant presence in North America and Europe, with Gigafactories in the United States, Germany, and China. Its Supercharger network is also the most extensive globally. Tesla has yet to build an official manufacturing facility in Africa, though its vehicles are imported into countries like South Africa by third-party distributors.
BYD, while historically focused on China, has rapidly expanded into over 70 countries. In 2024, its overseas sales rose by over 330%, reaching 242,765 units. BYD has opened production facilities in Brazil, Hungary, and Thailand, and plans to establish more plants in Mexico and Indonesia.
Presence in Africa
Africa is emerging as a new frontier for EV adoption, and BYD has taken the lead. In 2023, BYD partnered with Autopax, a division of South Africa’s Passenger Rail Agency, to pilot electric buses in Johannesburg. It has also delivered electric taxis and buses to Morocco, Kenya, and Egypt. In Ethiopia, BYD has supplied EV buses and partnered with local distributors for after-sales support. It recently set foot in Nigeria through a strategic partnership with LOXEA Nigeria, a subsidiary of CFAO Mobility.
BYD’s success in Africa is bolstered by its ability to offer affordable EV solutions, particularly electric buses, which are appealing to governments and public transit authorities aiming to reduce emissions.
Tesla, on the other hand, has minimal presence in Africa. While Tesla vehicles can be found in South Africa via importers, there is no official Tesla operation, service center, or showroom on the continent as of 2025. Affordability, lack of charging infrastructure, and logistical hurdles remain barriers.
Production, Sales & Revenue
In 2024:
- BYD sold 4.27 million vehicles, of which 1.76 million were BEVs and the rest plug-in hybrids.
- Tesla produced and delivered 1.78 million BEVs, maintaining its exclusive focus on pure electric models.
Revenue-wise, BYD brought in $107 billion, a 29% increase year-over-year, surpassing Tesla’s revenue of $97.7 billion. However, Tesla remains more profitable, posting $7.1 billion in net profit, compared to BYD’s $5.8 billion. Tesla’s diversified income from energy products, software (like Full Self-Driving), and regulatory credits contributes to its profitability.
Technology and Market Strategy
Tesla leads in autonomous driving software, over-the-air updates, and battery efficiency. Its cars are premium-priced, targeting middle- to high-income markets. BYD, on the other hand, offers a broader portfolio—from compact city EVs to electric buses and trucks. It also manufactures its own batteries (Blade Battery), giving it greater control over cost and supply chains.
Conclusion: A Tale of Two Strategies
While Tesla remains the global symbol of innovation and EV luxury, BYD is quietly winning the volume and accessibility game. BYD’s massive reach across Asia, Latin America, and now Africa—combined with its price advantage—has made it a key player in the democratization of EVs.
Tesla may dominate in profitability and branding, but BYD’s aggressive international expansion and alignment with public transport initiatives, especially in emerging markets, give it a different kind of edge.
In the EV war, Tesla is the technology leader, but BYD may be the one driving the global transformation—especially where affordability and accessibility matter most.
