China's BYD is on track to overtake Tesla as the world's biggest seller of electric vehicles, marking a major shift in the global EV race, BBC reported.
According to a report on Thursday, BYD said that sales of its battery-powered cars rose last year by almost 28 per cent to more than 2.25 million.
Tesla last week published analysts' estimates suggesting that it had sold around 1.65 million vehicles for the year as a whole.
Chinese electric vehicle maker BYD on Friday announced an increase in price of the premium variant of its SUV, SEALION 7, in India by Rs 50,000, citing evolving cost dynamics.
The price hike is effective from January 1, 2026, and all new bookings will be made at the revised prices henceforth, BYD India said in a statement.
The BYD SEALION 7 Premium variant will now cost Rs 49.4 lakh, up from Rs 48.9 lakh (ex-showroom) previously, it added.
The company, however, said the price of the BYD SEALION 7 Performance variant will remain unchanged at Rs 54.9 lakh.
"The updated pricing reflects the evolving cost dynamics while continuing to offer customers a compelling premium electric SUV proposition," BYD India Head of Electric Passenger Vehicles (EPV) Business, Rajeev Chauhan, said.
Since its launch, the BYD SEALION 7 has sold over 2,300 units across India, reinforcing the growing acceptance and demand for premium electric SUVs in the market, he added.
BYD’s rapid rise has been driven by its massive market in China, as well as accelerating overseas expansion.
With the global scale of the Chinese company, it is said to be able to leverage economies of scale and secure parts more cheaply, strengthening its price competitiveness.
BYD's overseas sales also rose sharply, supported by strong performance in Europe and expansion into Latin America and Southeast Asia.
The company also brought a manufacturing plant online in Brazil in 2025 and plans to use its Thailand facility to supply both local markets and exports to Europe.
According to AFP, as cited in The Straits Times, the company is also building production capacity in Hungary as it seeks to mitigate the impact of European tariffs on Chinese EVs .