BYD Surpasses Tesla in 2024 Revenue Amid Major Setbacks for the Rival EV Manufacturer
BYD reported $107 billion in 2024 revenue, outperforming Tesla amid significant sales declines for the latter in Europe and controversies surrounding its CEO.
Tesla just got even more bad news from Europe
Business Insider
China's BYD surpassed Tesla in annual revenue for 2024
Straight Arrow News
Summary
In 2024, BYD achieved $107 billion in revenue, surpassing Tesla's $97.7 billion. BYD's growth, buoyed by 4.3 million vehicle deliveries and innovations like a rapid charging system, contrasts sharply with Tesla's challenges. In Europe, Tesla's sales plummeted 49% in early 2025, attributed to an aging vehicle lineup and backlash against CEO Elon Musk's political ties, particularly his endorsement of Germany’s far-right AfD party. This decline occurs despite a 28.4% growth in overall EV sales in the region. Tesla's global sales also fell, marking its first annual decline in over a decade, compounded by multiple recalls of the troubled Cybertruck.
Sources (22)
No summary available for this perspective.
Al Jazeera·2M· "…Tesla’s ageing models are viewed as one reason for the dip, as traditional automakers and new Chinese manufacturers launch newer and cheaper EVs."
CNN·2M· "…BYD has been increasingly challenging the once dominant EV player Tesla."
CNN·2M· "…But more than a decade later, BYD has surpassed Tesla in annual revenue and upended the global market for EVs."
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