₦airaland Forum

Chinese EV giant BYD overtakes Tesla with annual sales topping $100 billion US

In comparison, Tesla's 2024 revenue was nearly $97.7 billion US

The Associated Press · Posted: Mar 25, 2025 8:07 AM MDT | Last Updated: March 25

Tesla's Chinese competitor BYD recorded a 73 per cent jump in fourth-quarter profit on Monday and said its annual revenue for 2024 crossed the $100 billion US mark, surpassing the U.S. automaker.

The Chinese electric vehicle maker logged a record 777.1 billion yuan ($107 billion US, or $153 billion Cdn) in revenue last year as its sales of battery electric and hybrid vehicles jumped 40 per cent.

In comparison, Tesla's 2024 revenue was nearly $97.7 billion US ($140 billion Cdn).


The report late Monday coincided with BYD's launch earlier this week of its Qin L EV sedan, a mid-sized model similar to Tesla's Model 3 but at just over half the price.

BYD's net profit last year was about 40 billion yuan ($5.6 billion US), up 34 per cent from the year before.

Last week, the company announced it was rolling out a super fast EV charging system that it says is nearly as quick as a fill up at the pumps.

BYD logged a record 777.1 billion yuan ($107 billion US) in revenue last year as its sales of battery electric and hybrid vehicles jumped 40 per cent. (Chalinee Thirasupa/Reuters)

The lion's share, nearly 80 per cent, of BYD's sales last year were related to its automotive businesses. BYD reported it sold about 4.3 million pure electric and hybrid vehicles last year.

Nearly 29 per cent of the company's sales were in markets outside Greater China, including Hong Kong and Taiwan, last year, up slightly from 27 per cent the year before.

The automaker has rapidly expanded its exports, though it has yet to try to sell in the U.S., where U.S. President Donald Trump has pledged to raise tariffs on car imports. BYD faces a 17 per cent tariff on exports of EVs to the European Union.

Tesla's sales and market share in Europe drop again

European sales of Tesla electric cars were almost cut in half during the first two months of this year compared with a year earlier, even as the overall market for battery-powered cars grew, according to the European Automobile Manufacturers Association.

In addition to an aging model line, sales declines are also being blamed in part on CEO Elon Musk's endorsement of Germany's far-right party in last month's national election, his embrace of fringe political movements and a gesture during a Trump event in January that many saw as a Nazi salute.

As competition grows and a slowdown in European economies hampers total car sales, Musk's battery-electric (BEV) brand has sold 42.6 per cent fewer cars in Europe so far this year, data from the European Automobile Manufacturers Association (ACEA) showed on Tuesday.

Someone needs to get destroyed for others to take off!

BYD is currently unstoppable!

Thanks to Elon Musk!

BYD cars are better than Tesla's and their business model is far better. USA is better at wars.

We are still struggling with 20 n 30 years old cars in nigeria.. using old tires n having fuel issues.
Ain't we cursed in this zoo.

BYD has better designs, faster charging and more advanced tech than tesla. Tesla is just living on old glory. Elon musk is only good at sacking federal workers

Emzedz:
We are still struggling with 20 n 30 years old cars in nigeria.. using old tires n having fuel issues.
Ain't we cursed in this zoo.

These are private companies doing things, what have you as a private citizen done to elevate Nigeria, you are waiting for other people to start. What happens to you doing something.

Electric cars are being assembled in Nigeria, We now have more Assembly plants than ever before. We have electricity powered BRT buses, and electric taxis like Lagride, and we have more electric cars on the roads in Nigeria than ever before.


I don't know the cave you are crawling out of but Nigeria is not as backward as that place you reside.

Not everyone is buying old tyres, that's is your own reality.
Dangote refinery is producing some of the safest petrochemical products even the US is exporting jet fuel from Nigeria, our fuel is not the problem, stop allowing your tank to go empty before you fill it, na your fuel pump get problem, e don dirty, your poverty no dey allow you buy fuel..

You better crawl out of that cave you are staying in.
Nigeria has left you behind.

I am in the country every 3 months and there is always something new.

Nigerians are trying.
Only idiots like you who can't contribute a pin to the development sit down and bark

EXOUSIAng:
These are private companies doing things, what have you as a private citizen done to elevate Nigeria, you are waiting for other people to start. What happens to you doing something.

Electric cars are being assembled in Nigeria, We now have more Assembly plants than ever before. We have electricity powered BRT buses, and electric taxis like Lagride, and we have more electric cars on the roads in Nigeria than ever before.


I don't know the cave you are crawling out of but Nigeria is not as backward as that place you reside.

Not everyone is buying old tyres, that's is your own reality.
Dangote refinery is producing some of the safest petrochemical products even the US is exporting jet fuel from Nigeria, our fuel is not the problem, stop allowing your tank to go empty before you fill it, na your fuel pump get problem, e don dirty, your poverty no dey allow you buy fuel..

You better crawl out of that cave you are staying in.
Nigeria has left you behind.

I am in the country every 3 months and there is always something new.

Nigerians are trying.
Only idiots like you who can't contribute a pin to the development sit down and bark

Your Ignorance is so disgusting n pathetic..
You lack clear understanding of the Nigerian system. U must not to be too sound to comprehend what I wrote but your case is like a psychotic mumbo jumbo.
You suffer from seizures I know but do take your drugs dumbo.

Emzedz:
Your Ignorance is so disgusting n pathetic..
You lack clear understanding of the Nigerian system. U must not to be too sound to comprehend what I wrote but your case is like a psychotic mumbo jumbo.
You suffer from seizures I know but do take your drugs dumbo.

An intelligent person would have responded with a superior point.
You couldn't defend your previous point, you couldn't even think.
I just listed various areas and all your brain could do was come to bark....
You animals think everyone shares your cage with you.
This is why your brain is not productive enough to add value to this country.
If everyone one in China and US sit complain and wait like an idiot like you is doing do you think their country would grow?
Why am I even expecting a brainless man to think