Chinese BEV Maker BYD Surpasses Tesla in Sales
Chinese battery electric vehicle (BEV) manufacturer BYD has once again outpaced Tesla in global electric vehicle sales. A recent financial report from the Shenzhen-based automaker revealed that BYD’s revenue surged by 29% in 2024, reaching an impressive $14.8 billion—eclipsing Tesla’s reported revenue of $13.5 billion for the same period. BYD’s financial success was driven by strong hybrid vehicle sales and high demand for its competitively priced BEVs. The company has also introduced a more affordable BEV to compete directly with the Tesla Model 3, which has historically been China’s best-selling electric vehicle and remains one of Tesla's most popular models…