ANKARA

China's BYD has unseated Tesla as the world's top electric carmaker by posting record sales in the last quarter of 2023, according to company figures. 

Shenzhen-based BYD sold 525,409 battery electric vehicles (BEVs) from October - December and surpassed Tesla's 484,507 to become the world's EV sales carmaker, it said Monday in filing with the Shanghai Stock Exchange.

Elon Musk’s Tesla electric car sales increased 38% in 2023 from the previous year to 1.8 million, outpacing BYD's 1.57 million.

BYD said it sold more than 3 million hybrid and full battery-powered passenger cars -- surging 62% from a year earlier.