Mar 24, 2025 - Business
Charted: BYD passes Tesla in revenue
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Chinese automaker BYD is expected to surpass Tesla in EV sales this year — but it's already surpassed Tesla in total revenue.
- Why it matters: The two companies are the far-and-away global leaders in EV sales.
By the numbers: BYD today reported about $107 billion in 2024 revenue, topping Tesla's $98 billion for the first time.
- BYD — which already sells more vehicles than Tesla when plug-in hybrids are included — also recorded net income of about $5.6 billion.
- That's nearly 2.5x Tesla's profit for 2024.
The bottom line: Long gone are any doubts about which automaker is Tesla's biggest rival.
