Tesla, which is the world's largest manufacturer of electric cars, has lost its leading position in the fourth quarter of 2023, giving way to China's BYD, reports Bild.

From October to December, Tesla sold 484,507 electric vehicles worldwide; this is up 11% from the third quarter.

But BYD surpassed that mark, with 526,409 electric vehicles sold in the fourth quarter.

In just one year, Tesla has sold 1.8 million electric cars, and surpassed its objectives for 2023.

BYD, which sold 1.6 million electric cars in the past 12 months, is following in the footsteps of Tesla.

The overall sales growth of the Chinese competitor was 62% compared to the previous year.