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Tesla's 2024 sales lag behind China’s BYD
The Street
Follow
3/25/2025
Loren Torres brings you the biggest news of the day, including China’s BYD besting Tesla in 2024.
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News
Transcript
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00:00
On the heels of unveiling its 5-minute charging station, China's BYD has something else
00:04
to boast about.
00:05
It had a better 2024 than Tesla.
00:07
BYD brought in $107 billion in revenue last year and reported a 29% increase in sales
00:13
from 2023.
00:14
Tesla, meanwhile, had roughly $98 billion in revenue, but sales declined by 1.1%, the
00:20
first year of declining sales in company history.
00:23
In its annual report, BYD's CEO said,
00:30
to New Energy Vehicles, breaking the dominance of foreign brands and reshaping the new landscape
00:34
of the global market.
00:36
Just last week, BYD showed off its Super E platform.
00:38
The company claims the station can charge its latest car models in just 5 minutes, giving
00:42
the driver a 250-mile range.
00:45
For comparison, Tesla's Superchargers take 15 minutes to charge and give drivers a 200-mile
00:49
range.
00:50
BYD owns a commanding 32% of the Chinese market when it comes to New Energy Vehicle sales,
00:55
and Tesla owns just 6%.
00:57
That'll do it for your daily briefing.
00:59
From New York City, I'm Lauren Torres with The Street.
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