BYD Reports Record Profits and Revenue Growth, Eyes 2025 Sales Surge

The Chinese automaker achieved a 33% profit increase and surpassed Tesla in revenue, while targeting up to 6 million vehicle sales this year.

BYD posted a net profit of 40.3 billion Yuan (€5.1 billion) in 2024, marking a 33% increase from the previous year.
The company's revenue rose by 29% to approximately €99 billion, driven by strong domestic sales and market leadership in China.
BYD sold 4.25 million vehicles in 2024, including 1.76 million fully electric cars, and aims to sell 5-6 million vehicles in 2025.
Innovations such as a fast-charging system offering 400 kilometers of range in five minutes and advanced driver assistance in lower-cost models are bolstering its market position.
BYD's stock price surged by 50% this year, reflecting investor confidence, though international expansion faces challenges due to EU tariffs on Chinese EVs.