Birthright aside, BYD has made history in the electric vehicle industry. As of November, they surged past this milestone to become the first automaker in the world to produce 10 million new energy vehicles. The company’s recent 2024 projected annual revenue of 777 billion yuan—roughly $107 billion—would represent a staggering baseline accomplishment. That’s more than Tesla’s entire annual revenue of $97.7 billion. This financial success is a huge milestone in the developing rivalry between these two electric vehicle juggernauts.
Its Hong Kong-listed shares have staged a massive comeback of late, up 46% year-to-date. BYD, who has recently made headlines with their innovative battery technology, combined, this advancement has the potential to reshape the entire electric vehicle segment and drive phenomenal levels of growth. The new “Super e-Platform” is heralded as the next great thing in electric vehicle technology. It lets them get to as much as 249 miles of range after only five minutes of charging, making a huge impact on consumer behavior in the industry.
BYD’s annual revenue is up an incredible 29% over last annual report. This notable increase is due in large part to the skyrocketing sales of its hybrid cars. The firm recently announced its next gen battery technology. This release comes hot on the heels of their new financial disclosure, highlighting their strategic progress in the space.
"BYD has become an industry leader in every sector from batteries, electronics to new energy vehicles, breaking the dominance of foreign brands and reshaping the new landscape of the global market," stated Wang Chuanfu, chairman and president of BYD.
Witnesses have lauded the debut of the Super e-Platform, describing it as “out of this world.” This innovative technology has the potential to dramatically transform the electric vehicle owner experience. This trend will have the most dramatic effect on the market. It will ensure that BYD continues to be a leader in innovation and development in the electric vehicle infrastructure industry.