AutoBusiness BYD Surpasses Tesla in 2024 EV Sales, Annual Report Reveals by Bella Monroe March 27, 2025 written by Bella Monroe March 27, 2025 0 comments 43 China’s EV manufacturer BYD achieved revenues of 777 billion yuan ($107 billion) in 2024, outperforming Tesla in annual sales amid escalating global clean-energy vehicle competition. In a Monday filing, BYD reported a 29% sales increase, delivering 4.27 million cars including fully electric vehicles and hybrids. By contrast, Tesla’s 2024 revenue was $97.7 billion, with 1.79 million battery-powered vehicle deliveriesmarking its first annual decline of 1.1%. BYD CEO Wang Chuanfu highlighted the company’s “rapid development” in its annual report, stating, “BYD has become an industry leader across batteries, electronics, and new energy vehicles, challenging foreign brand dominance and reshaping the global market landscape.” Global battery electric vehicle sales The company has increasingly challenged Tesla’s market position. Last week, BYD introduced an ultra-fast charging system capable of adding 250 miles of range in just five minutessignificantly outpacing Tesla’s Superchargers, which take 15 minutes to provide 200 miles of range. Additionally, BYD launched a complimentary advanced driver-assistance system across most models. Analysts noted that its free “God’s Eye” system intensifies pressure on Tesla, whose Full Self-Driving (FSD) service costs $99 monthly or $8,000 upfront in the US. EV cars are pictured inside BYD’s first electric vehicle (EV) factory in Southeast Asia, a fast growing regional EV market where it has become the dominant player, in Rayong, Thailand, July 4, 2024. “Tesla may eventually need to reduce FSD pricing in China,” observed Seth Goldstein, a Morningstar analyst. Tesla continues to face challenges in China, with its FSD service awaiting regulatory approval. After launching limited free trials last week, the company quickly halted them. Tesla’s Weibo support account pledged to secure approvals and roll out updates “as soon as possible.” While Chinese EVs face significant US market barriers due to tariffs, BYD dominates China’s new energy vehicle market. In 2024, BYD captured 32% of China’s market, compared to Tesla’s 6.1%, according to the China Passenger Car Association. Aerial view of BYD’s new plant under construction on March 11, 2025 in Jinan, Shandong Province of China. Tesla’s struggles extend to Europe, where February sales dropped 40% year-over-year, according to the European Automobile Manufacturers’ Association. Anna Cooban contributed reporting. What do you think about this story? Have you ever experienced something similar or have an interesting take to add? Share this article with your friends and followers on social media. Tag someone who needs to see this and let’s hear what they think! #worldnews Share 0 FacebookTwitterPinterestEmail Bella Monroe Bella Monroe is an entertainment reporter with exclusive interviews with Hollywood's biggest stars. She covers the latest in music, film, and viral internet trends. Sam graduated with a degree in Journalism from NYU and has been featured in top entertainment outlets. previous post French Alpha Jets Collision During Patrouille de France Rehearsal Captured in Shocking Video next post AI Accelerates Humanoid Robot Development, Investors Remain Cautious You may also like Honda Automates Chinese EV Factory with Robots and... May 7, 2025 Gates Proposes Robot Tax to Support Workers Displaced... May 5, 2025 Optimus Robot: Elon Musk’s Latest Technological Venture May 1, 2025 Bill Gates Reveals Surprising Motivation Behind Massive U.S.... April 27, 2025 Dow Drops 1,000 Points as Market Declines Amid... April 11, 2025 Buffett Recommends 19th-Century Poetry in Market Downturns April 9, 2025 Google Acquires Wiz for $31 Billion in Landmark... April 6, 2025 Tech Mogul Combines Social Media Platform with AI... April 1, 2025 AI Accelerates Humanoid Robot Development, Investors Remain Cautious March 27, 2025 James Murdoch, Elon Musk Confidant, Sells $13 Million... March 25, 2025