BYD Surpasses Tesla in Revenue as Global EV Leadership Strengthens
The Chinese automaker reports record sales and profit growth, targeting up to 6 million vehicle sales in 2025 while navigating challenges in international markets.
- BYD achieved a 33% increase in net profit in 2024, reaching 40.3 billion Yuan (5.1 billion Euros), with revenue rising 29% to approximately 99 billion Euros.
- The company sold 4.25 million vehicles globally in 2024, including 1.76 million fully electric vehicles, solidifying its position as a market leader.
- BYD has overtaken Tesla in revenue, though Tesla maintains a slight lead in global fully electric vehicle sales with 1.79 million units sold in 2024.
- Innovations like a fast-charging system providing 400 kilometers of range in five minutes and advanced driver assistance features in lower-cost models are driving BYD's growth.
- BYD's stock price has surged by 50% this year, reflecting strong investor confidence as the company targets 5-6 million vehicle sales in 2025.
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