Chinese EV giant BYD reported annual revenues of 777 billion yuan for 2024, surpassing Tesla's $97.7 billion revenue.
BYD's net profit for the year was over 40 billion yuan, exceeding analyst expectations but below Tesla's $7.1 billion profit.
BYD sold 4.27 million EVs in 2024, far surpassing Tesla's annual sales of 1.79 million vehicles.
BYD's unveiling of super-fast 1,000 kW chargers puts further pressure on Tesla, whose stock has been declining and is now facing challenges both in sales and from competition.