#ICYMI: BYD's 2024 revenue beats rival Tesla
Thanks to its overseas expansion.
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| Courtesy: BYD/Facebook |
Leading the e-vehicle market in the world
BYD's revenue surpassed the USD 100-billion mark last year, beating its rival Tesla as the Chinese company expands its global presence.
According to reports, BYD reported a revenue of around USD 107.2 billion or around PHP 6.1 trillion in 2024, compared to Tesla's USD 97.7 billion or around PHP 5.61 trillion.
BYD's profit, meanwhile, reached USD 5.5 billion or around PHP 315.15 billion, just behind Tesla’s USD 7.1 billion or around PHP 406.83 billion.
The Chinese car manufacturer sold 4.3 million units last year, besting Japan's Honda to become the sixth largest globally by vehicle sales, data from research firm Inovev showed. Only Toyota, Volkswagen, Hyundai-Kia, General Motors, and Jeep maker Stellantis were ahead.
BYD Chief Executive Wang Chuanfu has said he wanted to further expand the company's reach. However, he noted this will be difficult in some areas, such as the U.S., due to the imposition of a 100 percent tariff on Chinese e-vehicles.
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