The Chinese giant EV BYD exceeds Tesla with annual sales of $ 100 billion

The Chinese Tesla BYD competitor recorded a 73 percent jump in the fourth profit on Monday and said that its annual revenue for 2024 exceeded an American brand of $ 100 billion, bypassing the American auto industry.

The Chinese electric vehicle maker set a record 777.1 billion yuan ($ 107 billion, or 153 billion dollars such as CDN) last year, as its sales of electric and hybrid cars jumped by 40 percent.

Compared, Tesla’s revenues 2024 amounted to 97.7 billion US dollars (140 billion Canadian dollars).

The report coincided late on Monday with the launch of the BYD earlier this week from the Qin L ev Sedan, a medium -sized model similar to Tesla’s Model 3 but at more than half of the price.

Last year, the BYD net reached about 40 billion yuan ($ 5.6 billion), an increase of 34 percent over the previous year.

Last week, the company announced that it would offer a high -end EV charging system, which it says is the fastest filling of pumps.

The lion’s share, which is about 80 percent of BYD sales last year, was linked to its car business. BYD stated that she sold about 4.3 million pure electric vehicles and hybrid last year.

Nearly 29 percent of the company’s sales were in markets outside Greater China, including Hong Kong and Taiwan, last year, with a slight increase of 27 percent in the previous year.

The auto company has expanded its exports quickly, although it has not yet tried to sell it in the United States, as US President Donald Trump has pledged to raise the definitions of car imports. BYD faces a 17 percent tariff on EVS exports to the European Union.

Tesla sales and market share in Europe decrease again

European sales of Tesla Electric cars were almost reduced during the first two months of this year compared to the previous year, even as the total market for batteries that run, according to the European auto manufacturers Association.

In addition to a typical line of aging, blaming sales declines in part in support of CEO Elon Musk for the extremist right party in Germany in the national elections last month, and embracing the political movements inherent and gesture during the Trump event in January, where many saw Nazi greeting.

With the growth of competition and its lining in European economies, the total car sales hinders, the Musk’s Battery-Eleectric (Bev) has sold 42.6 percent of cars in Europe so far this year.

Tesla led 1.8 percent of the total market and 10.3 percent of the Bev market in February, a decrease from 2.8 percent and 21.6 percent, respectively, last year.

Less than 17,000 cars sold in the European Union and Britain and European Free Trade, compared to more than 28,000 in the same month in 2024.

Tesla also faces a number of challenges in Europe, before the launch of the new Y3 SU this month. The EV maker has a smaller and aging assortment while the traditional competitors of the new Chinese cars and expatriates are still launching new electric models often cheaper.