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Tesla’s global all-electric vehicle (EV) sales declined last year, with shipments dropping 8.6% to 1.6 million units in the second consecutive year of decline. This decline expanded from the previous year’s 1.1% decrease. Meanwhile, the Chinese EV leader surpassed Tesla for the first time to become the world’s top seller of pure electric vehicles. Including plug-in hybrids, the company has now led the overall new energy vehicle (NEV) shipments for four consecutive years.
The company’s pure EV sales increased by 28% last year, reaching 2.3 million vehicles, according to reports. Its plug-in hybrid sales fell 8% to 2.3 million, resulting in total NEV deliveries of 4.6 million units in 2025—an 8% year-over-year increase.
Founded in 1995 as a lithium battery manufacturer, the company has evolved into one of China’s leading producers of electric cars and power batteries. It ceased producing gasoline-powered vehicles entirely in 2022, the same year its NEV sales overtook Tesla’s to claim the top spot globally. In 2024, it also became China’s largest automaker by sales, overtaking SAIC Motor.
A significant factor in the company’s growth has been rapid international expansion. In 2025, global sales of passenger cars and pickups increased by 145% from the previous year, reaching 1 million units. The company’s presence now spans 110 countries and regions.
In response to increasing trade uncertainties, the company is fast-tracking localization efforts for manufacturing abroad. Since 2024, plants have been established in Thailand, Uzbekistan, and Brazil. Its first European factory, located in Hungary, is scheduled to be completed and operational later this year.
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