"BYD Dethrones Tesla in EV Sales Race as Musk Reacts to Shifting Dynamics"

BYD Co., a Chinese carmaker, has overtaken Tesla as the world's largest electric vehicle manufacturer. Initially a battery producer, BYD's rise to the top is attributed to its strategy of vertical integration, producing most components in-house, which has allowed it to produce EVs more affordably. This approach has enabled BYD to offer a diverse range of low-cost EVs, boosting sales and facilitating its expansion into global markets.