Chinese electric vehicle manufacturer BYD has reported significant revenue growth for the year 2024, surpassing Tesla's earnings. According to details revealed in a stock filing, BYD recorded revenue of 777.1 billion yuan (approximately ₹9.15 lakh crore) in 2024, exceeding Tesla’s revenue of ₹8.30 lakh crore. The company has also been expanding its presence in international markets.
BYD has established itself as a leader in the Chinese electric vehicle market, achieving a 29% increase in revenue compared to 2023. This figure exceeded Bloomberg’s projection of 766 billion yuan. The company's net profit reached a record 40.3 billion yuan, reflecting a 34% increase from 2023.
Recently, BYD introduced a new battery technology that enables a vehicle to travel up to 470 kilometers with just a five-minute charge. Following this announcement, BYD’s share prices surged. The company stated that its latest battery and charging system can deliver a charging capacity of 1,000 kW, making it faster than Tesla’s Superchargers, which currently offer charging speeds of up to 500 kW.
Chinese Electric Car Maker BYD Surpasses Tesla in Revenue
