BYD reported higher 2024 revenue than Tesla, driven by strong hybrid vehicle sales amid intensifying electric vehicle competition. Wang Chuanfu, chairman and president of BYD, hailed the firm’s “rapid development” last year, noting the company became the first automaker globally to reach the milestone of rolling out 10 million new energy vehicles in November. BYD claimed its new Super e-Platform enables cars to reach 400 kilometers of range with just five minutes of charging, though the claim remains unverified. Analysts praised the platform and said it could significantly change how EV owners use their vehicles.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02BYD reported higher 2024 revenue than Tesla driven by strong hybrid vehicle sales
00:07that intensify electric vehicle competition.
00:09Wing Chuanfu, chairman and president of BYD,
00:12hailed the firm's rapid development last year, noting the company became the first
00:16automaker globally to reach the milestone of rolling out 10 million new energy vehicles in
00:21November. BYD claimed its new Super E platform enables cars to reach 400 kilometers of range
00:27with just five minutes of charging, though the claim remains unverified.
00:31Analysts praised the platform and said it could significantly change how EV owners use their
00:35vehicles. For all things money, visit Benzinga.com slash GSTV.