Chinese EV giant BYD outpaces Tesla with annual sales of more than $100 billion
Portfolio Pulse from
Chinese EV manufacturer BYD reported annual revenue of 777 billion yuan ($107 billion) in 2024, a 29% increase from the previous year. The company has outperformed Tesla's $97.7 billion annual revenues and became the first automaker to produce 10 million new energy vehicles. BYD also announced a breakthrough battery technology enabling 249 miles of range with just 5 minutes of charging.
March 25, 2025 | 1:45 pm
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NEGATIVE IMPACT
Tesla's annual revenues of $97.7 billion were surpassed by BYD, and the company's stock has declined over 31% amid consumer boycotts and global demand challenges.
BYD's strong performance, combined with Tesla's stock decline and reported demand issues, suggests potential continued negative pressure on TSLA stock in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
BYD's strong financial performance and technological breakthrough could positively impact its US-listed ADR stock, signaling robust growth and market leadership in the EV sector.
Record revenue, milestone vehicle production, and innovative battery technology indicate strong growth potential for BYD's stock. The company is positioning itself as a global EV leader, which could attract investor interest.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100