Chinese EV maker BYD reported record 2024 revenue of $107.2 billion, surpassing Tesla.

Chinese electric vehicle maker BYD reported a 29% increase in revenue to 777.1 billion yuan ($107.2 billion) in 2024, surpassing Tesla's revenue for the year. BYD's net profit rose 34% to 40.3 billion yuan. The company sold nearly 4.3 million vehicles, a 41% increase from the previous year, with overseas sales up 72%. BYD's growth is driven by lower prices, higher sales, and expanding its global presence, including plans to build factories in Europe.