Courtesy Xiaomi Tesla is losing its monopoly on key markets like China. Many Chinese brands like BYD, Xiaomi, and many others have already started producing automobiles at similar numbers to Tesla. In fact, BYD is on the verge of dethroning Tesla as the world’s largest EV maker. CNN reports that BYD has already sold 1 million vehicles in the first half of 2025 compared to Tesla’s year-to-date total sales of approximately 721,000. What’s really incredible is that Xiaomi announced its intentions to start producing automobiles in March of 2021. Its first vehicle, the SU7 sedan, was launched just three years later, in March of 2024. You may have noticed from our previous article on Xiaomi’s YU7 SUV, that the brands vehicles are heavily influenced from existing vehicles like the Porsche Taycan and Ferrari’s Purosangue. And that’s not actually a bad thing, as we think they look brilliant. We haven’t driven either vehicle ourselves, but our friends at Car and Driver recently revealed that Ford Motor Company’s CEO, Jim Farley, daily drives a Xiaomi. And we think that says it all. What Does It Mean For the Market? We feel confident that you market watchers—and really anyone—have seen Tesla all over the place in 2025. They nearly doubled following election day, with expectations that the business would flourish during the second Trump administration. Come April, those gains had effectively disappeared, and Tesla was back at square one. Tumultuous Tesla Times