Etiqueta: Tariffs

BYD reported a 29% jump in sales from the previous year on deliveries of 4.27 million cars. By comparison, Tesla’s 2024 revenue was USD 97.7 billion

Chinese car company BYD is moving to increase sales in countries like Britain, amid a decline in Tesla's sales and reputation.

Chinese electric vehicle giant BYD aims to double its sales outside China to over 800,000 cars in 2025 and will look to overcome tariffs by assembling cars locally, its chairman told analysts on an earnings call on Tuesday. BYD, which sold 417,204 units abroad in 2024, expects to see "a substantial rise" in its market share in Britain, which is "very open" to competitive Chinese products, according to a transcript of the call Wang Chuanfu reviewed by Reuters. They also see "great opportunities" to grow rapidly in Latin American and South East Asian countries, where the governments and people are friendly with Chinese brands, he said.

Chinese EV maker BYD is crushing Tesla, leapfrogging the Elon Musk-led company by passing the $100 billion mark in revenue last year.

Cars News: China's BYD surpasses Tesla in 2024 annual revenue, reporting $107 billion, driven by strong domestic demand and global expansion. BYD's affordable hi

BYD on March 23 announced the launch of a lower-priced car to rival Tesla's Model 3, which has long been the top-selling EV in China.

Tesla's Chinese competitor BYD recorded a 73 per cent jump in fourth-quarter profit on Monday and said its annual revenue for 2024 crossed the $100 billion US mark, surpassing the U.S. automaker.

BYD has surpassed Tesla in annual revenue for the first time since 2018, reporting 777 billion yuan ($107 billion) in sales for 2024.

On EV sales, a clean energy lobbying blitz, and fusion

China’s BYD recorded revenues of 777 billion yuan ($107 billion) for 2024, surging ahead Elon Musk’s Tesla in annual sales amid intensifying competition in the global market for clean-energy cars.