BYD has emerged in recent years as the clear leader in the China’s highly competitive electric vehicle market, which is the largest in the world.
The nation’s automotive champion recorded over 777 billion yuan in revenue for 2024, eclipsing the 708 billion yuan in revenue last year announced previously by Tesla.
BYD’s figure represented a 29 percent increase from 2023 and was higher than a Bloomberg forecast of 766 billion yuan.
The firm’s net profit last year amounted to 40.3 billion yuan, up 34 percent from 2023 and reaching a record high.
The firm’s stock price also reached an all-time peak this month, after it unveiled new battery technology that it said allows a vehicle to travel up to 470 kilometres after charging for just five minutes. (AFP)
