Tue, 25 Mar 2025

Tue, 25 Mar 2025 Chinese electric carmaker BYD sales beat Tesla

The Shenzhen-based firm says revenue for last year came in at $107bn, boosted by sales of its hybrid vehicles.

* BYD, a Chinese electric vehicle maker, has reported annual revenue of 777 billion yuan ($107bn; £83bn), beating rival Tesla's $97.7bn.
* The firm's sales were boosted by hybrid vehicles and it sold a record 4.3 million vehicles globally in 2024.
* BYD has launched a new lower-priced car to rival Tesla's Model 3, with a starting price of 119,800 yuan compared to the Model 3's basic version price of 235,500 yuan.
* The firm's founder Wang Chuanfu announced new battery charging technology that can charge an EV in five minutes.
* BYD has also made its advanced driver-assistance technology available free in all its models.
* Shares in BYD have jumped by more than 50% so far this year.
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