BYD surpasses Tesla with $101b in 2024 revenue

Chinese electric vehicle (EV) manufacturer BYD reported a 29% increase in its annual revenue for 2024, totaling 777 billion yuan (approximately US$101.1 billion).

This amount exceeds Tesla’s revenue of US$97.7 billion for the same period.

Earnings reports indicate that BYD began surpassing Tesla in sales from the third quarter of 2024.

The company has led in unit deliveries since 2022, fueled by strong EV demand in China and government subsidies promoting domestic consumption.

Recent BYD developments

Timeline
25-Mar-2025 🚗 BYD’s 2024 profit jumps 34% as new EV sales surge 41% BYD’s net profit rises 34% to 40.25 billion yuan. EV sales up 41%, with overseas sales surging 72%.
25-Mar-2025 🚗 BYD launches Qin L EV sedan to rival Tesla BYD launches Qin L sedan to rival Tesla Model 3. Qin L priced at 119,800 yuan, lower than Model 3.
18-Mar-2025 ⚡ BYD unveils EV platform with 1,000 volt fast charging BYD reveals new 1,000-volt EV platform. Fast charging allows 400 km range in 5 minutes.
07-Mar-2025 🚗 BYD launches in Kazakhstan BYD launches vehicles in Kazakhstan with Astana Motors. Han EV and Song Plus tailored for local conditions.
04-Mar-2025 💰 BYD to raise $5.05b in largest post-IPO share sale BYD plans to raise $5.05B via share placement. Funds will aid expansion amid EV market competition.

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Recent BYD developments

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