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BYD outdoes Tesla (TSLA) in annual revenue, finishing its fiscal 2024 with $107 billion

The Chinese EV giant saw a 29 percent increase in revenue over its previous year and outdid Tesla's 2024 annual revenue of $97.7 billion.
TJ Denzer
TJ Denzer
Image via BYD
2

As companies are posting their quarterly and yearly financial reporting, electric vehicle giant BYD was a notable group to recently report. The company has been making a name for itself overseas as one of the few EV companies that can give the highly profitable Tesla a run for its money. That proved to be true in the bottom line of BYD’s 2024 annual finances, which amounted to 777 billion yuan, or about $107 billion USD, and beat out Tesla’s annual revenue for its fiscal 2024.

BYD reported its full year 2024 earnings results on its investor relations website, as reported by CNBC. There, the company reported its revenue of 777 billion yuan for the year ending on December 31, 2024. That comes out roughly to $107.6 billion. That’s also quite a bit more than the $97.7 billion that Tesla put up in its own full year 2024 earnings results.

BYD company's 2024 full year financial results, including its 777 billion yuan in revenue.
BYD put up 777 billion yuan for its full 2024 annual revenue, outdoing the 602 billion yuan it put up in 2023.
Source: BYD

On top of its impressive sales and business throughout 2024, BYD has also been making a major name for itself through the introduction of new technology. It recently introduced a new charging station said to be able to charge an EV in about the same amount of time it takes to fuel a gas-based automobile. With that, EV users wouldn’t have to fear being stranded in any place for long if their vehicle can be charged in just a few minutes. The company also announced plans to roll out about 4,000 of these new charging stations across China.

With such a strong year behind it, BYD continues to be a company to watch in the electric vehicle space. Stay tuned to the EVs topic as we continue to follow for the latest news on BYD, Tesla, and more.

Senior News Editor
Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on BlueSky @JohnnyChugs.

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