And, in the last quarter of 2023, it surpassed Tesla as the world's leading EV seller. BYD also enjoys cost advantages because of its strong capabilities across the EV supply chain, especially power storage. Many foreign auto giants, including Tesla and BMW, rely on BYD for batteries. Who are the other players? There are a staggering 129 EV brands in China, but just 20 have managed to achieve a domestic market share of one percent or more, according to data compiled by Bloomberg. The data showed BYD at almost 33 percent, with Tesla in second place with more than eight percent. In third place with 5.8 percent of the market is Wuling, which makes China's best-selling EV to date — a tiny two-door car named Hongguang Mini. The rest of the pack includes Volvo Cars-parent Geely and electric SUV maker Li Auto, as well as the relatively newer XPeng and NIO.