After the release of the 2023 financial report, BYD has established itself as a strong competitor in the automotive industry, outperforming Tesla in several aspects.
On March 27, 2025, BYD (002594.SZ) announced its earnings report for the fiscal year 2024, highlighting its continued growth trajectory. BYD’s revenue reached 777.1 billion yuan, marking a 37.8% increase compared to the previous year. The company also reported an impressive net profit of 402.5 billion yuan, demonstrating a robust performance in the competitive automotive market.
BYD’s growth has not only been rapid but also reflects its commitment to social responsibility. The company has made significant strides towards sustainable development, with total investments reaching 510 billion yuan, a substantial increase from previous years.
In 1984, BYD entered the automotive sector, and over the past 39 years, it has transformed into a leading force in the industry. In 2023, BYD sold 302,000 vehicles, which is a record for the Chinese automotive market. The sales figures are expected to grow further, with projections indicating 427,000 vehicles in 2024, achieving a success rate of 41.1%.
According to industry analysts, BYD is at the forefront of the automotive transition, focusing on electric and new energy vehicles. The company aims to leverage innovative technologies and sustainable practices to enhance its market position.
Additionally, as of 2024, BYD plans to expand its electric vehicle offerings, with a target of producing 542 billion yuan in revenue from electric vehicles alone. This represents a significant increase of 35.68% from the previous fiscal year.
BYD is also exploring international markets, with a focus on expanding its presence in Europe, Southeast Asia, and North America. The company is set to introduce new models and technologies, aiming to capture a larger share of the global automotive market.
In summary, BYD’s dedication to innovation, sustainability, and expansion positions it for continued success in the rapidly evolving automotive industry.
