BYD manufacturer of Chinese electric cars has exceeded Tesla in global revenues, strengthening its location as a dangerous competitor to dominate the electric vehicle market (EV).
The company, which is based in Church, has a 29 percent increase in global revenue for 2024, reached 777 billion yuan (84 billion pounds / 107 billion dollars), and arrested 100 billion dollars for the first time. In comparison, Tesla's revenues amounted to $ 97.7 billion during the same period.
Founded in 1995 and was supported by American billionaire Warren Buffett, by Bayt – in short for “Build Your Dreams” – it has quickly expanded its international scope, including an increasing network of latitudes in the UK. Its height has been accelerated through aggressive prices, especially in its local market, and a growing range of models across each of the electric hybrid sectors and additional components.
Unlike Tesla, the BYD produces a mixture of zero and hybrid compounds for gasoline, allowing it to attract a broader base for consumers. While the delivery of pure electric cars to both manufacturers is closely matched in less than 1.8 million units annually, the most affordable BYD prices played a pivotal role in strengthening their market share.
The company also recently released waves with its announcement of a penetration shipping technology, claiming it was delivering 232 miles of domain in just five minutes – although this was not independently verified in the United Kingdom or Europe.
Tesla continues to confront the opposite winds in the main markets. In Europe, February sales figures showed that the American company is sliding behind Volkswagen, BMW, and many Chinese competitors. According to Jato Dynamics numbers, new EV records in Europe decreased by 2.5 percent on an annual basis to 966,000 cars in February. However, Chinese manufacturers challenged the decline, increasing their market share by 82 percent to 40,600 cars. Chinese brands are EV alone 19800 sales – a comfortable before 15700 Tesla, which represents a decrease of 34 percent.
In the UK, the BYD fingerprint remains smaller but grow. The company sold 8,800 vehicles in 2024, compared to 50,000 Tesla. In the first two months of 2025, BYD recorded 2800 sales in the United Kingdom, while Tesla sold 5300.
Tesla challenges extend beyond vehicle sales. The company's CEO, Elon Musk, has become increasingly polarized in global politics. Its general support to the right -wing parties in Europe, including posts on the X (which was previously Twitter) that supports the alternative to Germany Für Deutschland, is concerned with concerns about some European consumers. His voice support for Donald Trump's campaign also sparked eyebrows, especially in the most cautious markets of American political discourse.
Industry analysts propose this political tangle, as well as the Tesla collection, the model and expected sequence of the current model Y, to contribute to the shift in consumer morale.
“Tesla suffers from tremendous change,” said Felipe Monoz, global analyst at Jato Dynamics. “In addition to the increasingly active role of Elon Musk in politics, and the increasing competition it faces in the electric vehicle market, the brand gives up the current version of the Y-its best-selling vehicle-in anticipation of the introduction of a new and timing version.
Despite a rock start for this year – the shares decreased by approximately 30 percent – Tesla shares increased in New York on Monday, when it rose by 11.9 percent to $ 278.39 after reports that the mutual tariff suggested by Donald Trump may be less aggressive than expected.
With BYD attention to a large European batch this spring and an increasing scrutiny around Tesla leadership and the brand visualization, the global EV race enters a decisive stage. Currently, the momentum appears to be in favor of BYD.
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