Here's your morning TNB Tech Minute for Friday, January 2nd. Happy New Year. I'm Julie Chang for the Wall Street Journal.

Tesla vehicle sales fell for the second year in a row. The electric vehicle maker has been adjusting to a shopping landscape disrupted by the end of federal subsidies.

Sales were down 9% for all of 2025. They dropped 16% for the fourth

quarter compared with a year prior. The company said its final quarterly tally was over 418,000

Tesla's delivered, missing analysts' estimates. That set the stage for BYD to dethrone Elon Musk's company as the world's

biggest seller of EVs, even though the Chinese automaker reported slowed growth in 2025 amid

intensified competition in China. BYD said late yesterday that it sold over 420,000 units in December.

That's down 18% on year, marking its fourth consecutive month of sales decline. Its 2025 annual sales rose 7.7%, significantly lower than

2024's 41% jump. And Baidu's AI chip unit has confidentially filed an application to list on the Hong Kong Stock Exchange.

It's the latest company to capitalize on the frenzy surrounding AI.

Baidu has been facing pressure on both its top and bottom lines as its main advertising business slows.

The company has been investing heavily in fields such as chip development, AI, and

self-driving technology as it seeks new avenues for growth. The filing comes amid a surge of

AI-related listings in Hong Kong. And that's your TNB Tech Minute. We'll be back this afternoon with more.