The Shenzhen-based firm has emerged in recent years as the clear leader in China's highly competitive EV market, which is the largest in the world
People visit the BYD booth during the 2025 Hainan International Automobile Exhibition & Haikou International Exhibition of Intelligent & New Energy Vehicles on March 14, 2025 in Haikou, Hainan Province of China.
Image: Luo Yunfei/CNS/VCG via Getty Images
Chinese carmaker BYD saw a surge in revenue last year, a stock filing showed Monday, surpassing the $100 billion mark and beating rival Tesla as the electric vehicle giant accelerates its overseas expansion.
The Shenzhen-based firm has emerged in recent years as the clear leader in China's highly competitive EV market, which is the largest in the world.
It is also increasingly seeking new growth channels abroad, vowing to conquer the European market with a new compact electric model and super-fast charging capabilities to rival continental brands.
BYD recorded 777.1 billion yuan ($107.2 billion) in revenue for 2024, a statement published Monday evening at the Shenzhen stock exchange showed.
That figure eclipsed the $97.7 billion in revenue last year announced previously by Tesla.