BYD hits new record, closing EV sales gap with Tesla

Chinese automaker BYD announced record passenger car sales of 4.25 million units in 2024, a 41% increase from the previous year. This total includes 1.76 million fully EV.

December sales reached 509,440 plug-in hybrids and EV, including 207,734 fully electric models.

The increase in sales was attributed to government subsidies and buyer incentives.

BYD’s growth has narrowed the gap with rival Tesla in the global EV market.

Tesla needs to deliver at least 515,000 EVs in Q4 to meet its guidance of 1.81 million units.

Recent BYD developments

Timeline
26-Dec-2024 ⚖️ BYD contractor denies labor abuse claims at Brazil factory Jinjiang denies ‘slavery-like’ labor conditions. Company to address allegations in joint letter.
24-Dec-2024 🚨 BYD shuts Brazil factory over labor abuses BYD ends partnership over severe labor violations. 163 workers rescued from ‘slavery’-like conditions.
17-Dec-2024 🤖 BYD plans to recruit global graduates for robotics research BYD recruits for humanoid robotics team. Targets master’s and doctoral grads for 2025.
14-Dec-2024 🚗 BYD to produce its EVs in Europe in 2025 BYD to produce Dolphin and Atto 3 in Hungary. New supply chain for EVs, facing import tariff effects.
09-Dec-2024 🚗 BYD almost exceeds annual target with 3.76m EVs sold

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Recent BYD developments

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