BYD Outshines Tesla with Record-Breaking Revenue

Chinese electric vehicle (EV) giant BYD has overtaken Tesla in annual sales, reporting an impressive 777 billion yuan ($107 billion) in revenue for 2024. This marks a 29% year-over-year increase, driven by the sale of 4.27 million electric and hybrid vehicles.

In contrast, Tesla generated $97.7 billion in revenue and delivered 1.79 million fully electric cars, marking a 1.1% decline in annual deliveries—its first drop ever.

BYD’s Market Expansion and Industry Leadership

In its latest annual report, BYD CEO Wang Chuanfu emphasized the company’s rapid expansion, stating that BYD has become a leader in batteries, electronics, and EVs, challenging the dominance of foreign brands.

As Tesla faces increasing competition, BYD continues to strengthen its market position by expanding globally and advancing its EV technology.

BYD’s Innovations Surpass Tesla in Charging and Self-Driving Tech

BYD has gained an edge over Tesla with new technology:

• Ultra-Fast Charging: BYD’s latest charging system can add 250 miles of range in just five minutes, compared to Tesla’s Supercharger, which takes 15 minutes for 200 miles.
• Advanced Driver Assistance: BYD introduced its “God’s Eye” self-driving system across most of its models for free, while Tesla’s Full Self-Driving (FSD) system costs $99 per month or $8,000 upfront in the U.S. Analysts predict Tesla may be forced to cut FSD prices in China to stay competitive.

Tesla Faces Regulatory and Market Challenges

Tesla continues to struggle in China due to regulatory restrictions on its Full Self-Driving (FSD) software. The company recently launched a limited free FSD trial, only to halt it within days as it awaits government approval.

While BYD dominates the Chinese market with a 32% share of new energy vehicle sales, Tesla holds only 6.1%, despite record-high shipments.

Tesla is also facing setbacks in Europe, where sales dropped by 40% in February 2025, marking the second consecutive month of decline, according to the European Automobile Manufacturers’ Association.

BYD Solidifies Its Global EV Leadership

Despite trade barriers restricting Chinese EVs from the U.S. market, BYD continues to lead in China—the world’s largest auto market. With cutting-edge technology, aggressive pricing, and a growing global presence, BYD is positioning itself as the top competitor in the electric vehicle industry.