Chinese auto giant BYD sold more electric vehicles in Europe than Tesla for the first time, a setback for Elon Musk’s EV maker as it faces growing competition overseas.

BYD, leveraging its cost advantages and strong Chinese market presence, has overtaken Tesla in global EV sales, necessitating BYD's continued focus on affordability and international expansion, while Tesla needs to diversify its lineup and reduce costs.

Build Your Dreams (BYD) establishing a base in Hungary proves that BYD has landed on European soil and is proving to be a threat for EV rival Tesla.