Tesla’s electric vehicle sales in the UK plummeted by a dramatic 60% last month BYD’s registrations in the UK soared to 3,184 units in July , underscoring its growing presence and aggressive challenge to established EV players. Tesla’s struggles come despite the recent release of an upgraded version of its flagship Model Y SUV. The company’s board also recently approved a new pay package for CEO Elon Musk, valued at 96 million new shares, explicitly aimed at “energising and focusing” the billionaire on reviving the carmaker’s flagging performance. This compensation move follows a protracted legal battle over a previous $56 billion pay award that was struck down by a Delaware judge. The broader UK car market also saw a modest decline in July, with overall registrations down 5% year-on-year. This slowdown has been partly linked to consumer uncertainty surrounding the government’s new EV subsidy scheme, which has yet to confirm full model eligibility for grants of up to £3,750. However, BYD’s impressive growth stands out against this backdrop, signaling a significant shift in the competitive landscape of the electric vehicle market. For latest tech stories go to TechDigest.tv Share this: