The firm said on Monday it had sold a record 526,000 battery-only vehicles in the last three months of 2023.
That was helped by a more than 70% surge in sales in December.
US-based Tesla is scheduled to release its latest quarterly vehicle production and delivery figures before Wall Street opens on Tuesday.
For the year as a whole, Shenzen-based
BYD said it had sold more than 3 million so-called-new energy vehicles (NEVs), which includes battery-only vehicles and hybrids. Almost 1.6 million of its total sales were battery-only vehicles, the firm said.
Industry analysts have forecast that Tesla sold around 483,000 electric vehicles in the last three months of 2023 and 1.82 million for the year as a whole.
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Since 2008 BYD has counted veteran US investor Warren Buffett's Berkshire Hathaway as a shareholder.
Analysts say BYD owes its growth to its original business - batteries. They are among the most expensive parts of an EV and making them in-house saves BYD a lot of money.
Many of BYD's competitors rely on third-party manufacturers for batteries.