BYD overtakes rival Tesla
BYD has eclipsed Tesla in the battle to be the biggest EV maker after reporting annual revenue of 777 billion yuan (NZ$186b) for 2024.
The Chinese marque says its result was up 29 per cent from the previous year and was boosted by sales of its hybrid vehicles.
The figure surpassed the US$97.7b (NZ$170.5b) in revenue achieved by Elon Musk’s Tesla last year, reports the BBC.
BYD sold 1.76 million battery electric vehicles (BEVs) in 2024, slightly behind Tesla’s 1.79 million units.
However, when the Chinese brand’s hybrid cars are taken into account its global sales reached a record 4.3 million units.
BYD hopes to maintain its advantage after this week launching the Qin L, pictured. The all-electric sedan is priced cheaper than Tesla’s Model 3, which has long been the top-selling EV in China, reports the BBC.
