On June 3, Tesla Inc.’s (NASDAQ:TSLA) Model 3 and Model Y vehicles were included in a Chinese government-backed campaign to boost sales of electric and hybrid vehicles in rural areas. This marks the first time Tesla models have participated in this annual campaign, which has been held since at least 2020.
The 2 Tesla models are among 124 electric and hybrid vehicles selected for the program this year. The company’s cars made their debut this year after being absent from the annual campaign held at least since 2020.
After the US, China is the biggest market for this EV manufacturer. However, Tesla faces intense competition in China, where its sales have been declining. In 2024, Tesla’s China-made EV sales fell 6% year-on-year in April, and its market share was only 6.1%. In comparison, BYD Company Limited’s (OTC:BYDDF) share stood at 32% in the new energy vehicle market, which includes hybrids. Notably, many of BYD’s best-selling cars, which were part of the 99 vehicles on the list last year, remain on the list for 2025 as well.
Tesla Inc. designs, develops, manufactures, leases, and sells EVs and energy generation & storage systems in the US, China, and internationally.
BYD Company Limited engages in the automobile & battery business in China, Hong Kong, Macau, Taiwan, and internationally.
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This article is originally published at Insider Monkey.
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