- Chinese EV manufacturer BYD’s annual sales revenue has surpassed Tesla, after the OEM recorded an annual revenue of $107 billion in its 2024 financial reports, marking a significant milestone in BYD’s emobility history.
- Tesla’s annual revenue for 2024, meanwhile, came in at $97.7 billion for the year of 2024.
- With the more recent achievements from BYD this month, how much further can revenue be stretched in 2025?
BYD annual revenue surpasses $100 billion
This record revenue was uncovered in BYD’s recently published 2024 financial report, which showed that the OEM recorded a 29% increase in revenue over 2023. Of course, BYD’s revenue streams are also significantly more diverse than Tesla – including not only its EVs, but batteries which it provides to other car manufacturers, and even public charging infrastructure (such as the BYD-based units installed at InstaVolt’s new Winchester Super Hub in the UK).
BYD’s record figure can be attributed to its rapid growth sales, both thanks to its rising sales in China and its continual market expansion into European territories. With more revealed by BYD since the start of 2025, this year could also be a bumper time for revenue for the brand. Just last week, it unveiled its 1,000 kW passenger car charging technology, which will be capable of charging a compatible EV in around five minutes – comparable to a petrol car. And, exclusively for China at the moment, it also revealed the Qin L EV – a midsize electric saloon that will go on sale at around half the price of what a Tesla Model 3 costs in China. Reuters has also reported that BYD is mulling an EV plant in Germany, further helping it to avoid EU tariffs on Chinese-made EVs.
With all that in mind, and combined with Tesla’s recent sales drops across many countries, BYD could once again stay in front of Tesla when it comes to 2025 revenue figures.
