BYD, leveraging its cost advantages and strong Chinese market presence, has overtaken Tesla in global EV sales, necessitating BYD's continued focus on affordability and international expansion, while Tesla needs to diversify its lineup and reduce costs.

Data from JATO Dynamics shows that BYD’s Europe volumes rose 359% in April from last year as the company continues its global expansion efforts.

BYD Co. sold more electric vehicles in Europe than Tesla Inc. for the first time, overtaking the American brand that long led the continent’s EV segment.