BYD on track for global success

Chinese new energy vehicle maker BYD saw its 2024 total revenue rise over 29 percent year-on-year to 777.1 billion yuan ($107 billion), outperforming Tesla for the first time.

That brought its net profit attributable to shareholders to 40.25 billion yuan last year, up 34 percent from the previous year, according to the financial results released on Monday.

In comparison, Tesla's total revenue was $97.69 billion in 2024, a 1 percent increase from $96.7 billion in 2023. Its net income decreased to $7.13 billion, down from $15 billion in 2023.