BYD's 2024 Revenue Surpasses Tesla's, Reaching $107.2 Billion

Shenzhen-based BYD reported a record revenue of $107.2 billion in 2024, a 30% increase, surpassing Tesla's $97.7 billion. Net income rose 34% to $5.55 billion. BYD sold 4.27 million vehicles, including 1.76 million EVs, nearly matching Tesla's 1.79 million EV sales. The company forecasts 5-6 million vehicle sales in 2025, with sales up 93% in the first two months. BYD's market capitalization is approximately $157 billion, while Tesla's is around $800 billion. BYD is expanding in Europe and Asia, while Tesla faces declining sales in China.