SHANGHAI -- BYD led China's passenger vehicle market in sales for the first time in 2024, highlighting the rise of privately owned companies in an industry long dominated by partnerships between state-owned and foreign automakers.
Automobiles
BYD takes lead in China auto market once driven by state-backed players
Volkswagen, GM and state-owned partners struggle amid rapid EV transition
BYD's specialization in electric vehicles and plug-in hybrids has given it an edge in China. (Photo by Tomoko Wakasugi)
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