22 sources·Business

BYD Surpasses Tesla in 2024 Revenue Amid Major Setbacks for the Rival EV Manufacturer

BYD reported $107 billion in 2024 revenue, outperforming Tesla amid significant sales declines for the latter in Europe and controversies surrounding its CEO.

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  2. Chinese EV giant BYD outpaces Tesla with annual sales of more than $100 billion

    BYD has become an industry leader in every sector from batteries, electronics to new energy vehicles, breaking the dominance of foreign brands and reshaping the new landscape of the global market.

    Chinese EV giant BYD outpaces Tesla with annual sales of more than $100 billion

    CNBCCNBC·1M
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  3. Tesla sales fall by 49% in Europe even as the electric vehicle market grows

    Tesla faces increasing competition from major automakers as they ramp up EV production, including China’s BYD.

    Tesla sales fall by 49% in Europe even as the electric vehicle market grows

    Associated PressAssociated Press·1M
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  6. Stock Movers: Tesla, KB Home, Trump Media

    The figures are much lower than expected due to affordability concerns and it could signal concern over the American housing complex.

    Stock Movers: Tesla, KB Home, Trump Media

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  7. Tesla just got even more bad news from Europe

    Tesla's slide comes despite wider EV sales rising 28.4% to more than 255,000 in Europe in January and February, accounting for 15% of the EU market.

    Tesla just got even more bad news from Europe

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  8. How Polestar engineers EVs that can handle brutal winters

    As much as I hope for road-going versions of the Arctic Circle to hit the market, even the stock Polestars provided more evidence that EVs can work—and be fun, engaging, and borderline rambunctious to drive—all in some of the harshest conditions on the planet.

    How Polestar engineers EVs that can handle brutal winters

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  9. Tesla sales plummet in Europe despite EV growth

    Tesla’s ageing models are viewed as one reason for the dip, as traditional automakers and new Chinese manufacturers launch newer and cheaper EVs.

    Tesla sales plummet in Europe despite EV growth

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  11. Tesla sales plummet amid Elon Musk backlash

    Tesla's troubles are unsettling some investors, who worry CEO Musk's actions are harming the company and its stock price by exposing it to unnecessary political risk.

    Tesla sales plummet amid Elon Musk backlash

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  12. Chinese EV firm BYD reported $107B in annual revenue — beating out rival Tesla

    While Tesla remains a formidable player, especially in the US market, BYD’s combination of affordability, innovation, and production scale is proving to be a winning formula — particularly in emerging markets and its domestic base.

    Chinese EV firm BYD reported $107B in annual revenue — beating out rival Tesla

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  14. China's BYD surpassed Tesla in annual revenue for 2024

    BYD’s growth was fueled not only by strong demand in its home market of China, but also by a significant expansion of its global customer base.

    China's BYD surpassed Tesla in annual revenue for 2024

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Updated: Mar 25th, 2025, 1:14 PM ET

Summary

A summary of the key points of this story verified across multiple sources.

In 2024, BYD achieved $107 billion in revenue, surpassing Tesla's $97.7 billion. BYD's growth, buoyed by 4.3 million vehicle deliveries and innovations like a rapid charging system, contrasts sharply with Tesla's challenges. In Europe, Tesla's sales plummeted 49% in early 2025, attributed to an aging vehicle lineup and backlash against CEO Elon Musk's political ties, particularly his endorsement of Germany’s far-right AfD party. This decline occurs despite a 28.4% growth in overall EV sales in the region. Tesla's global sales also fell, marking its first annual decline in over a decade, compounded by multiple recalls of the troubled Cybertruck.

Perspectives

Compare opinions on this story from liberal (Left), conservative (Right) or center-leaning news organizations.

  • Tesla faces increasing competition from BYD, which reported higher revenues of $107 billion, signaling a significant shift in the EV market landscape and intensifying pressures on Tesla's market share.

  • Recent vandalism and arson against Tesla's facilities, escalating amid Musk's political activities, highlight the backlash from his controversial public persona and decisions during a tumultuous business environment.

  • Despite challenges, Tesla's stock experienced brief gains following a motivational meeting called by Musk aimed at rallying investor confidence, yet concerns remain as numerous analysts predict further declines.

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BYD Surpasses Tesla in 2024 Revenue Amid Major Setbacks for the Rival EV Manufacturer - Pano News