Chinese giant BYD surpasses Tesla in revenue for the first time

Chinese giant BYD surpasses Tesla in revenue for the first time: the electric vehicle race accelerates

The electric vehicle revolution continues to gain momentum - and in 2024, a turn of events occurred in the global market that seemed impossible until recently: Chinese company BYD (Build Your Dreams) has overtaken American Tesla in annual revenue.

According to Bloomberg data, BYD earned 777 billion yuan (about 107 billion dollars), while Tesla's revenue was approximately 96 billion dollars. This is a historic milestone, confirming the rapid growth of the Chinese automaker, which in just a few years has gone from a regional brand to a global player.

Not just electric cars, but hybrids too

While Tesla focuses exclusively on electric vehicles, BYD actively employs a flexible strategy. The company sells both electric vehicles (EV) and hybrid models (PHEV), which allowed it to reach a volume of 4.27 million vehicles, of which 1.76 million are pure electric cars. For comparison, Tesla sold about 1.8 million cars over the year - all electric vehicles.

Profit still with Tesla, but the trend is obvious

Yes, Tesla is still ahead in net profit - $7.6 billion versus $5.6 billion for BYD. However, the gap is gradually narrowing. If the trend continues, BYD may catch up in this indicator as well.

Why is this important?

• BYD is strengthening its expansion into Europe: Chinese electric vehicles are already being sold in Norway, France, Germany, and other countries.

• In-house batteries: BYD manufactures its own batteries, which reduces costs and provides technological independence.

• Investment in innovation: the company invests billions in development, automation, and green energy.

What about the USA?

In the United States, BYD is not yet present - the main reason being high tariffs on Chinese vehicles. But analysts believe that the company could enter the market through Mexico or create joint production with other brands.

Conclusion: the battle for the throne continues

BYD surpassing Tesla in revenue is not a coincidence, but the result of strategic and sustainable growth. The Chinese are betting on the mass market, expanding their model range and offering affordable prices. Tesla continues to play on the image of a premium brand and focuses on innovation.

The electric vehicle race is reaching a new level. Who will win in the long run - time will tell. But one thing is clear: Build Your Dreams is no longer just a company name, it's a reality.

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