Chinese auto giant BYD sold 2.26 million electric vehicles last year, a company statement showed, setting a new record for any firm globally.
The figure puts BYD in pole position to outstrip Elon Musk's Tesla in the annual category for the first time.
Shenzhen-based BYD, which also produces hybrid cars, announced the data in a statement published to the Hong Kong Stock Exchange, where it is listed.
Known as "Biyadi" in Chinese — or by the English slogan "Build Your Dreams" — BYD was founded in 1995, originally specialising in battery manufacturing.
The automotive juggernaut has come to dominate China's highly competitive new energy vehicle market — the world's largest.
Now it is seeking to expand its presence overseas, as increasingly price-wary consumption patterns in China weigh on profitability.
BYD and its Chinese competitors face hefty tariffs in the United States.
But its success is growing in Southeast Asia, the Middle East, and even Europe — to the consternation of traditional industry heavyweights from the continent.
Tesla narrowly beat BYD in annual EV sales in 2024, with U.S. company's 1.79 million just outpacing the latter's 1.76 million.
This year, Musk's firm has seen sales struggle in key markets over the CEO's political support of U.S. President Donald Trump and far-right politicians.
Tesla has also faced rising EV competition from BYD and other Chinese companies, as well as from European giants.
Even as it has grown quickly, BYD has faced challenges in its home market.
With profitability in China weighed down by price-wary consumers, the company has sought to strengthen its foothold in foreign markets.
BYD is "one of the pioneers to establish overseas production capacity and supply chains for EVs," Jing Yang, Director of Asia-Pacific Corporate Ratings at Fitch Ratings, told AFP last week.
"Going forward, its geographical diversification is likely to help it to navigate an increasingly complicated global tariff environment," said Yang.
Overseas rivals to BYD have balked at Chinese state subsidies and other state supports that have allowed the company to sell vehicles cheaply.
Trump's predecessor Joe Biden imposed 100 percent tariffs on Chinese EV imports that could potentially go even higher under Trump. Europe has also imposed tariffs on Chinese imports, but BYD is building manufacturing capacity in Hungary.
