BYD left behind Tesla in a record income of 2024 Trending Global News

The Chinese car maker BYD saw last year’s revenue rise, which crossed the $ 100 billion mark and defeated its rival Tesla as a large electric vehicle company has accelerated itself.

Shenzhen -based BYD has emerged as a prominent leader in China’s highly competitive EV market in recent years.

The company is rapidly looking for new ways to develop overseas. BYD is committed to conquering the European market with a new ‘compact electric model’ and extremely fast charging capabilities compared to other continental brands.

In Europe, the Chinese company’s vehicles have emerged as a difficult turning point for Tesla, which has fallen after supporting the far -right political groups by CEO Elon Musk, sales in the continent.

According to a statement released on Monday evening on the Shenzhen Stock Exchange, BYD recorded $ 777 billion yuan or $ 107 billion revenue for 2024.

Earlier, Tesla announced that her income had dropped to $ 97 billion last year.

Last year, BYD’s net profit was more than 40 billion yuan, 34 % higher than 2023 and at the highest level in history.

The monthly sales of BYD also increased by 161 percent in February to three lakh 18 thousand units, and during the same period, Tesla easily surpassed sales.

Sharp charging

Shares in Hong Kong, Hong Kong, reached a record height this month when the firm exposed the new battery technology. The company says the vehicle can be charged at the same time as it seems to fill petrol.

According to the company: ‘Super e -platform’ battery and charging system has a high speed of 1000 kW and allows cars to travel up to 470 km (292 miles) after five minutes of charge.

On the contrary, Tesla’s Super Chargers currently have 500kW charging.

BYD Vice President Steella Lee said last week that registration numbers will be increased in Europe during March and April.

The BYD group has launched a major advertising campaign that includes the sponsorship of last year’s European Championship in football and has opened several new showrooms throughout the continent.

However, the geographical political and trade tensions between Beijing and the Western capitals are at risk of loss of global ambitions.

EU officials are allegedly investigating whether the Chinese government provided unfair subsidy to the first BYD’s Factory in Hungary, where production of electric cars is about to begin later this year.

Last week, company spokesman Lee said the company would be ‘extremely transparent’ and is ready to cooperate in any investigation.

US President Donald Trump has recently imposed a high blanket tariff on Chinese imports, increasing his predecessor Biden’s move. These tariffs effectively prevent the use of Chinese technology in smart cars.