Tesla cars were outsold by a rival electric-vehicle manufacturer in Europe for the first time. The Chinese company BYD sold 7,231 fully electric cars in April compared to Tesla’s 7,165, according to the automotive data firm Jato Dynamics. The numbers represent a breakthrough for BYD as Tesla has dominated the European battery electric vehicle market for years. BYD only began operating beyond Norway and the Netherlands in late 2022, but has apparently benefited from Tesla’s reputation tanking since CEO Elon Musk joined President Donald Trump’s administration. This week, it emerged that even King Charles III decided not to go with Tesla when he bought a $210,000 fully electric SUV. Instead, the eco-conscious monarch chose to buy a Lotus, a historically British brand that now has a 51 percent Chinese ownership stake and manufactures in Wuhan, China.
Read it at Financial Times
