EV giant byd bustpas tesla with annual sales of more than $ 100 billion

Chinese car manufacturer Byd reported Annual income of 777 billion yuan ($ 107 billion) by 2024, jumping rival Tesla As competition between the two electric vehicles rivals.

In a presentation published on Monday, Byd registered a 29% increase in income The previous year, reinforced by the sales of their hybrid vehicles. This figure exceeded the annual income of $ 97.7 billion reported by Elon Musk Tesla.

Wang Chuanfu, president and president of Byd, praised the “rapid development” of the firm in 2024, noting that the company became the first car manufacturer worldwide in reaching the milestone of implementing 10 million new energy vehicles in November.

“Byd has become a leader of the industry in all sectors, from batteries, electronics to new energy vehicles, breaking the domain of foreign brands and remodeling the new overview of the global market,” Wang said in a statement.

The presentation comes shortly after Byd announced A new battery technology that states can load EV almost as fast as it is needed to fill a gasoline car.

The automobile manufacturer said last week that it is the new “electronic platform plate” will allow cars that use technology to achieve 400 kilometers (approximately 249 miles) with only 5 minutes of load. CNBC could not independently verify these statements.

Analysts praised the new byd battery platform as “out of this world“And he suggested that development could lead to a deep change in behavior among EV owners.

Byd’s actions, which are quoted in Hong Kong, have recovered 46% in the year they will be held.

Tesla’s actions, meanwhile, have fallen more than 31% so far this year, in the middle of Ascent consumption boycots and demand falling worldwide due to the rise of Musk as a right -wing political figure.

– Hakyung Kim of CNBC contributed to this report.