In the past few weeks, major news outlets have reported that Chinese automotive giant BYD has overtaken Tesla as the world’s largest seller of electric vehicles. While it may be true that BYD has usurped Tesla to sell more electric vehicles or generate more revenue, the idea that either is the largest EV seller in the world completely ignores a company that sells more EVs each year than both Tesla and BYD combined.
Those EVs just have half the wheels.
I’m talking, of course, about the real global leader in electric vehicle sales: Yadea, a company that builds electric two-wheelers and three-wheelers, outselling by a long shot Tesla and BYD combined.
Of course part of this argument is semantical, and it also depends on how you definite the world’s largest seller. Many recent articles about BYD overtaking Tesla refer to BYD’s 2024 annual revenue, which eclipsed Tesla’s for the same period. To be fair, that feat is even more impressive considering Tesla enjoys a relatively large sales volume in BYD’s domestic market of China, whereas BYD is prevented from selling in Tesla’s domestic market of the US, one of the largest global automotive markets.
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While Yadea can’t compete with overall revenue due to its vehicles being much more affordable, that’s kind of the point. Yadea sells as many EVs in a quarter as Tesla and BYD do in a year, and for much more affordable prices.
In fact, Yadea’s recent announcement of surpassing 100 million cumulative electric two-wheelers sold globally puts both automakers’ figures in perspective. On an annual basis, Yadea consistently sells more than 6-8 million electric scooters, bicycles, and motorcycles, comfortably surpassing the combined annual sales of Tesla and BYD.
Why, then, does the media often ignore Yadea when crowning the king of EV sales? Simply put, there’s still an automotive bias that sees cars as “real” vehicles and treats two-wheelers as a side note. It’s understandable, and even my own well-meaning colleagues here at Electrek can occasionally be guilty of it. But this attitude misses an essential point: For millions of people worldwide, especially in densely populated urban centers throughout Asia and increasingly in Europe and North America, an electric scooter or bicycle isn’t just a real vehicle – it’s often the most sensible, efficient, and affordable choice.
Two-wheeled electric vehicles offer numerous practical advantages over cars. They’re dramatically more energy-efficient, cheaper to buy, cheaper to run, easier to maintain, and fit seamlessly into urban lifestyles where space is limited and traffic congestion is the norm. Electric scooters and bikes aren’t just vehicles; they’re solutions to pressing urban issues like air pollution, traffic congestion, and affordability. Most young urban commuters can’t afford a new Tesla, nor can they charge its battery in the living room of their fifth-floor apartment. But a typical e-bike or e-scooter solves both of those problems, bringing affordability and convenience to the electric vehicle market.
Moreover, Yadea reaching the incredible milestone of 100 million electric vehicle sales highlights the sheer scale and impact of electric two-wheelers globally. And that’s just one company. For comparison, Tesla recently celebrated surpassing just over 7 million total vehicles, and BYD, despite its rapid growth, is still far behind Yadea in cumulative units delivered.
The takeaway here is clear: Let’s not get caught up in automotive tunnel vision. If we truly care about electrification and sustainability, it’s vital to recognize that the global electric vehicle market is bigger – and more diverse – than cars alone. Companies like Yadea aren’t just quietly outselling Tesla and BYD; they’re providing practical mobility solutions that might just be the “better” electric vehicles that millions of people actually need.
Electrek’s Micah Toll checks out a new Yadea electric scooter at the company’s 2024 Retail Dealer’s Summit in China
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China just laid out a plan to roll out over 100,000 ultra-fast EV charging stations by 2027 – and they’ll all be open to the public.
The National Development and Reform Commission’s (NDRC) joint notice, issued on Monday, asks local authorities to put together construction plans for highway service areas and prioritize the ones that see 40% or more usage during holiday travel rushes.
The NDRC notes that China’s ultra-fast EV charging infrastructure needs upgrading as more 800V EVs hit the road. Those high-voltage platforms can handle super-fast charging in as little as 10 to 30 minutes, but only if the charging hardware is up to speed.
China had 31.4 million EVs on the road at the end of 2024 – nearly 9% of the country’s total vehicle fleet. But charging access is still catching up. As of May 2025, there were 14.4 million charging points, or roughly 1 for every 2.2 EVs.
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To keep the grid running smoothly, China wants new chargers to be smart, with dynamic pricing to incentivize off-peak charging and solar and storage to power the charging stations.
To make the business side work, the government is pushing for 10-year leases for charging station operators, and it’s backing the buildout with local government bonds.
The NDRC emphasized that the DC fast chargers built will be open to the public. This is a big deal because a lot of fast chargers in China aren’t. For example, BYD’s new megawatt chargers aren’t open to third-party vehicles.
As of September 2024, China had expanded its charging infrastructure to 11.4 million EV chargers, but only 3.3 million were public.
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A U.S. Justice Department logo or seal showing Justice Department headquarters, known as “Main Justice,” is seen behind the podium in the Department’s headquarters briefing room before a news conference with the Attorney General in Washington, January 24, 2023.
Kevin Lamarque | Reuters
Federal prosecutors have charged two men in connection with a sprawling cryptocurrency investment scheme that defrauded victims out of more than $650 million.
The indictment, unsealed in the District of Puerto Rico, accuses Michael Shannon Sims, 48, of Georgia and Florida, and Juan Carlos Reynoso, 57, of New Jersey and Florida, of operating and promoting OmegaPro, an international crypto multi-level marketing scheme that promised investors 300% returns over 16 months through foreign exchange trading.
“This case exposes the ruthless reality of modern financial crime,” said the Internal Revenue Service’s Chief of Criminal Investigations Guy Ficco. “OmegaPro promised financial freedom but delivered financial ruin.”
From 2019 to 2023, Sims, Reynoso and their co-conspirators allegedly lured thousands of victims worldwide to purchase “investment packages” using cryptocurrency, falsely claiming the funds would be safely managed by elite forex traders, the Department of Justice said.
Prosecutors said the pair flaunted their wealth through social media and extravagant events — including projecting the OmegaPro logo onto the Burj Khalifa, Dubai’s tallest building — to convince investors the operation was legitimate.
A video posted to the company’s LinkedIn page shows guests in evening attire posing for photos and watching the spectacle in Dubai.
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In reality, authorities allege, OmegaPro was a pyramid-style fraud.
When the company later claimed it had suffered a hack, the defendants told victims they had transferred their funds to a new platform called Broker Group, the DOJ said. Users were never able to withdraw their money from either platform.
The two men face charges of conspiracy to commit wire fraud and conspiracy to commit money laundering, each carrying a maximum sentence of 20 years in prison.
The Justice Department, FBI, IRS-Criminal Investigation, and Homeland Security Investigations led the multiagency investigation, with help from international partners.
Tesla is starting to experience some consequences for misleading Full Self Driving customers – at least that’s the finding of one arbitration ruling that has Tesla refunding one customer $10,000 plus legal fees for failing to deliver on their promises. Find out more on today’s legally challenging episode of Quick Charge!
An arbitration “court” found that Tesla misled customers with its Full Self Driving product, and has now been forced to refund at least one person’s $10,000 payment (plus legal fees) for the not-quite autonomous driving software. France, too, is piling on claims of deceptive business practices – but there’s some good news for FSD fans! If you’re still willing to pay for it, Tesla will thrown in 0% financing on a brand new Cybertruck.
Check out the relevant links, below, to learn more.
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