The electric vehicle (EV) industry is witnessing a seismic shift in 2025, with Tesla (TSLA) and BYD—represented by its Shenzhen ticker she: 002594—locked in a fierce rivalry. These two titans have long dominated the global EV market, but their paths are diverging sharply this year. While Tesla grapples with declining stock value and missed expectations, she: 002594 is riding a wave of success, fueled by record-breaking sales and bold moves in self-driving technology. This analysis explores what’s driving these trends, unpacking sales figures, technological advancements, and market dynamics as of February 26, 2025.
Tesla and BYD, symbolized by she: 002594 on the Shenzhen Stock Exchange, are the world’s largest EV manufacturers. Their competition intensified in 2022 when BYD’s vehicle sales surged past Tesla’s, a lead that widened dramatically by Q4 2024. Today, she: 002594 boasts sales more than twice Tesla’s annual total and triple its Q4 figures. For all-battery electric vehicles (BEVs), BYD claimed the top spot in Q4 2024, though Tesla narrowly held the yearly crown for 2024. This tug-of-war underscores why investors and analysts are closely watching she: 002594 and TSLA in 2025.
Both companies hit quarterly delivery records in Q4 2024, yet Tesla’s annual deliveries dipped for the first time, a stark contrast to the meteoric rise of she: 002594. Tesla’s earnings disappointed despite a bitcoin-fueled boost, while she: 002594 shattered expectations with a 61% sales increase in the same period. What’s behind this divergence? Let’s break it down.
Tesla’s stock soared in late 2024, buoyed by optimism around Full Self-Driving (FSD), robotics, and AI breakthroughs. Investors also pinned hopes on the incoming Trump administration favoring Elon Musk. However, that momentum crashed in 2025, with TSLA plunging 25% by February 25. The Q4 earnings report revealed weaker-than-expected results, sparking concerns over softening EV demand, repeated delays in self-driving timelines, and Musk’s polarizing political involvement.
In contrast, she: 002594 has surged 47.1% in 2025, hitting record highs. This growth reflects BYD’s strategic push into autonomous driving and its ability to deliver affordable EVs at scale. While Tesla struggles, she: 002594 is capitalizing on global trends, making it a standout in the EV landscape.
Tesla delivered 495,570 EVs in Q4 2024, up from 462,890 in Q3 and surpassing its previous record of 484,507. Yet, this fell short of analyst estimates (506,000) and Tesla’s own guidance (515,000+), despite heavy discounts. For the full year, Tesla’s 1,789,226 deliveries marked a 1% decline from 2023’s 1,808,591—a rare stumble for the EV pioneer. Tesla leaned heavily on China sales, which carry slimmer margins, highlighting vulnerabilities compared to she: 002594.
Meanwhile, she: 002594 delivered a staggering 1,524,270 vehicles in Q4, a 61% leap from the prior year and triple Tesla’s total. Full-year sales soared 41% to 4,272,145, driven by plug-in hybrids and a BEV tally of 1,764,992—nipping at Tesla’s heels. In January 2025, she: 002594 sold 300,358 EVs, up 49% year-over-year, though down 42% from December due to Lunar New Year slowdowns in China. These figures cement she: 002594 as a sales juggernaut.
Tesla kicked off 2025 with the much-anticipated Model Y “Juniper” refresh, launched in January. Deliveries began in China on February 26, with U.S. and European rollouts slated for March. The revamped Model Y sports a distinctive light bar reminiscent of the Cybertruck, but past refreshes—like the 2023 Model 3—failed to spark significant sales growth. Will this update reverse Tesla’s fortunes, or will it falter against she: 002594’s affordable offerings?
The Cybertruck, now eligible for a $7,500 tax credit since January 1, saw deliveries slow in Q4 despite a price drop to $79,990 for the non-Foundation series. Analysts suspect Tesla is losing money on each unit, a concern not mirrored by she: 002594, which thrives on cost-efficient production. Tesla also deployed a record 11 gigawatt-hours of energy storage in Q4, totaling 31.4 GWh for 2024, but this bright spot hasn’t offset broader EV struggles.
While Tesla retrenches, she: 002594 is expanding aggressively. BYD’s EVs, ranging from $10,000 to $150,000, cater to diverse markets through brands like Denza and Yangwang. Its latest hybrid system boasts a 2,100-kilometer range, while overseas sales are surging thanks to improved shipping logistics and new factories. She: 002594’s Thailand plant is ramping up, with Brazil set to open in early 2025 and Hungary by 2026. Plans for Turkey, Indonesia, and beyond further solidify its global footprint.
Unlike Tesla, she: 002594 sidesteps U.S. passenger EV markets due to tariffs but produces buses in California. A potential wildcard? Trump’s support for Chinese EV makers building U.S. plants could see she: 002594 pivot stateside, amplifying its dominance.
Battery technology is a battleground for these giants. Tesla relies on Panasonic, LG, and China’s CATL for lithium-ion batteries, plus some LFP units from she: 002594 itself. Its 4680 batteries, hyped since 2020, promise cost savings but face production hurdles. She: 002594, however, is a battery powerhouse, producing Blade LFP batteries for its own EVs and third parties like Tesla and Toyota. A next-generation Blade battery, due in 2025, promises longer range and faster charging, giving she: 002594 an edge.
By 2027, she: 002594 aims to demo solid-state batteries for premium models, with mass adoption by 2030–2032. Tesla’s battery storage business, while robust, leans on suppliers like she: 002594, highlighting BYD’s vertical integration advantage.
Tesla’s Full Self-Driving (FSD) v13 rolled out in late 2024, showing progress but falling short of robotaxi readiness. Musk predicts paid robotaxi rides in Austin by June 2025, yet past promises have fizzled. The Cybercab, unveiled in 2024, targets a sub-$30,000 price by 2027, while FSD launches in China this month. However, she: 002594’s Level 2+ ADAS, standard on models above $13,688—including the $10,000 Seagull—challenges Tesla’s premium-priced FSD ($8,000 or $99/month).
She: 002594’s February 10 smart-car event showcased its driver-assist push, leveraging low-cost components to outpace rivals. This accessibility could erode Tesla’s tech lead, especially in cost-sensitive markets.
Tesla’s Supercharger network remains a U.S. asset, though deals with other automakers dilute its exclusivity. Its solar business lags, but the Optimus robot, eyed for 2026 sales, could be a game-changer if Musk’s trillions-dollar vision pans out. She: 002594, meanwhile, makes its own chips and batteries, bolstering its low-cost model. Its solar operations and BYD Electronics division (serving Apple) add depth, though auto remains its core.
The EU’s 2025 tariffs—17% extra on she: 002594’s BEVs but not PHEVs—won’t dent BYD much, thanks to Hungary and Turkey plants. Tesla faces a lighter 7.8% tariff on China-made Model 3s. Trump’s election, backed by Musk, raises questions. Scrapping the $7,500 EV credit could hurt Tesla, while a federal self-driving framework might help. She: 002594 could benefit if Trump lures Chinese EV plants to the U.S., though China’s retaliation—like delaying Tesla’s FSD license—looms.
Tesla’s Q4 2024 earnings rose 3% to $25.7 billion, missing forecasts despite bitcoin gains. Margins sank to 16.3%, with auto margins at a low 13.6%. She: 002594’s Q3 earnings climbed 16% to $28.7 billion, topping Tesla’s revenue, with margins at 21.89%. Q4 estimates predict a 39% EPS surge for she: 002594, signaling robust growth.
Tesla’s stock peaked at 488.54 in December 2024 but crashed to 2025 lows below its 50-day line, down 25%. She: 002594, up 47.1%, has soared past its 2022 high, driven by self-driving buzz and sales forecasts through 2026. She: BYD’s value reflects its operational strength, while Tesla’s price mirrors uncertainty over growth and Musk’s focus.
Tesla’s $974 billion market cap dwarfs she: 002594’s $136.4 billion, yet BYD’s sales and innovation challenge Tesla’s valuation. She: 002594’s affordable EVs, hybrid prowess, and global reach position it as a formidable rival. Tesla’s thin pipeline—Cybertruck woes, Model Y hopes—contrasts with she: 002594’s expansive lineup. As self-driving and EV demand evolve, she: 002594 may close the gap further in 2025.
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