EV Giant Byd exceeds Tesla with annual sales over $ 100 billion

Chinese carmaker Bake report An annual income of 777 billion yuan ($ 107 billion) for 2024, jumping us to the US competitor Tesla As the competition between the two opponents is heated.

In submission published on Monday, byd posted by 29% increase in revenue From the previous year, strengthened by sales of its hybrid vehicles. This figure exceeded the annual earnings of $ 97.7 billion, which was reported by Tesla Elon Musk.

In 2024, Van Chuuanfu, chairman and president of the BYD, greeted the “rapid development” of the firm, noting that the company became the first automakers in the world to reach a milestone deploying 10 million new energy cars in November.

“Byd has become the leader of the industry in each sector: from batteries, electronics to new energy vehicles, violating the dominance of foreign brands and the reshuffle of the new landscape of the world market,” Van said in a statement.

Submission comes shortly after byd announced The new battery technology, which claims, can charge EVS almost as fast as required to fill the gasoline car.

Last week, the carmaker said the new so-called “Super E-Platform” will allow cars using technology to reach 400 kilometers (approximately 249 miles) range from just 5 minutes of charge. CNBC could not independently check these claims.

Analysts welcomed a new Byd battery platform as “From this world“And he suggested that development could lead to a deep change in EV owners.

BYD shares listed by Hong Kong rallied 46%.

Meanwhile, Tesla shares collapsed over 31% this year, against the background Growing a boycott of consumers And the drop in demand is worldwide due to the rise of Musk as the right political figure.

– Hakyung Kim CNBC contributed to this report.