BYD's 2024 revenue tops US$100B for first time

Shenzhen-based electric vehicle (EV) manufacturer BYD announced Monday that it achieved a record revenue of 777.1 billion yuan (US$107 billion) last year. This marks the first time the company has surpassed the US$100 billion revenue milestone, outperforming Tesla’s annual revenue of US$97.7 billion. The significant increase in revenue was driven by a 40% surge in BYD’s sales of pure electric and hybrid vehicles. In terms of vehicle deliveries, BYD shipped 4.27 million hybrid and pure electric vehicles, compared to Tesla’s 1.79 million EVs.

Visitors admire BYD’s luxury Yangwang U9 during the Singapore Motorshow 2025 at the Suntec Singapore Convention & Exhibition Centre on Jan. 9, 2025. Xinhua