China's BYD reported annual revenue of 777 billion yuan ($107 billion) for 2024, leapfrogging Tesla as competition between the two EV rivals heats up.
  • jimmydoreisalefty@lemmy.world
    21·
    4 days ago

    Interesting, thanks for sharing this with us!

    Alt. Link: https://archive.is/zBOwx

    Key Points

    1. China’s BYD reported annual revenue of 777 billion yuan ($107 billion) for 2024, leapfrogging Tesla as competition between the two EV rivals heats up.
    2. “BYD has become an industry leader in every sector from batteries, electronics to new energy vehicles, breaking the dominance of foreign brands and reshaping the new landscape of the global market,” Wang Chuanfu, chairman and president of BYD, said in a statement.
    3. The filing comes shortly after BYD announced a new battery technology that it claims can charge EVs almost as quickly as it takes to fill a gasoline car.

    Tesla:

    Shares of Tesla, meanwhile, have tumbled more than 31% so far this year, amid rising consumer boycotts and plummeting demand globally driven in part by Musk’s rise as a hard-line conservative political figure.