Chinese manufacturer BYD closes a record year and surpasses Tesla in revenue
BYD, a Chinese electric car manufacturer, saw a strong increase in revenue last year, exceeding the $100 billion barrier and surpassing US rival Tesla, the firm announced Monday.
The Shenzhen-based company reported $107.2 billion in revenue in 2024, outpacing Tesla’s $97.7 billion, the company said.
In recent years, BYD has risen to the top of China’s competitive electric vehicle market and is now expanding internationally.
The company is seeking for new areas to expand into, and it plans to enter the European market with a new compact electric car model with ultra-fast charging capabilities.
BYD is looking to capitalize on Tesla’s challenging situation in Europe, where sales have slumped after its CEO, Elon Musk, took on a leadership role as an advisor to US President Donald Trump and expressed far-right views.
