Byd Sale CO. Last year she surpassed a $ 100 billion tag, skipping Elona Musk Tesla Inch. About income, while the Chinese Auto Div penetrates consumers with a series of electric and hybrid cars full of high -technology features.
Byd, based in Shenzhen, reported the revenue of 777 billion Juan ($ 107 billion) in 12 months, which ended on December 31, which is 29%, according to the application late Monday, beating the estimates for 766 billion Yuan. Tesla’s revenue of 2024. was $ 97.7 billion. The net income of the EV Chinese manufacturer increased 34% annually to 40.3 billion Juan, beating the assessments of analysts by 39.5 billion Juan.
Byd quickly climbed to the top of the Chinese car market – the largest and most concise in the world in terms of electric vehicles. Only this year, byd presented a new ecosystem that allows EVS to charge 400 kilometers inOnly five minutesand introduced advanced technology to help the driver in even the most basic models. Investors sent their shares recordly, and Bed’s shares on the Hong Kong list rose by about 51%this year.
Byd also sells approximately the same number of EV as Tesla – 1.76 million in 2024. Opposite 1.79 million – but when all its other sales of passenger hybrid cars are included, it is much higher. Byd -d total delivery last year climbed to 4.27 million, almost as much as Ford engine Co.
Byd predicted that he could sell between 5 million and 6 million vehicles this year. He has already embarked on a strong start, with a sale in the first two months of 2025. In an increase of 93% on an annual basis to 623,300 units.
Read more: Cheap Chinese cars take over roads around the world
One area where Tesla still clearly leads, however, a market estimate. The American car manufacturer is worth around $ 800 billion, despite the route of shares prices for which stock supply is 38% this year. Byd has market capitalization of close to $ 157 billion.
Male Ev Maker also makes more money on absolute basis; Tesla’s net income last year was $ 7.6 billion.
But while Tesla was losing in Kini-Polish, the last five consecutive months were returning to the annual level-byd win. China is still by far the largest BYD market, where it commands a shareAlmost 15%Not only for new energy vehicles, but also any passenger car.
Byd does not sell passenger cars in the US for criminal tariffs on Make-in-chin cars, but has made a great deal of entry into markets in Europe, places in Asia such as Singapore and Thailand, as well as in Australia.
Wang Chuanfu, President of Bed, the founder, said in a statement that the company had planned to continue strengthening research and development, at the same time strengthening the competitiveness of the product, including its focus of success outside China.
He also said that the Chinese car brands in the time of the vehicle under the guidance of intelligence data were no longer just followers, but at the head of the trend. They are “bold” to be the first in the world and collaborate with other domestic brands to become global and head for a value chain, he said.
This story is originally shown on Fortune.com
