BYD overtakes a stumbling Tesla to hit a new milestone.

Live from the BBC World Service, this is the Marketplace Morning Report.

I'm Luke Wilson in Fuliana Byrne. Good morning.

The Chinese electric vehicle maker, BYD, says its revenue topped $100 billion for the first time last year,

putting it slightly ahead of its main rival, the US firm Tesla. BID, which stands for Build Your Dreams, saw sales increase to more

than 4 million vehicles last year. Here's the BBC's business correspondent, Erin Delmore.

When we separate out the numbers here, we see that BYD's total revenue for the year amounted

to $107 billion. Rival Tesla came in just shy of $98 billion. These are the two big names

in electric vehicles right now, but it's different how they're going about their businesses and

where they're dominating sales. The cars made by BYD, broadly speaking, are cheaper to build and cheaper to buy.

Meanwhile, some criticisms of Tesla include an aging fleet, which is a byproduct of being first on the scene.

If we take it back to nuts and bolts here, one of the interesting things about BYD surpassing Tesla in revenue

is that BYD sold more cars. When it came to

EVs, they were pretty close to neck in neck, actually. But when you start talking also about

hybrids and other passenger vehicles, that's where BYD really sold more individual vehicles.

The BBC's Erin Delmore. To Europe's biggest economy now, Germany, where a new parliament will sit for the

first time later this morning, and it'll look very different to the last one. They're said to be a new

chancellor and a new coalition government by Easter, but it will be the far right party,

alternative for Deutschland, sitting as the main opposition, which will be the most dramatic change.

AFD doubled its number of seats in the Bundestag during last month's election.

Christoph Rolwald is Bloomberg's Germany bureau chief and joins me now.

Hi, Christoph.

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