CHINESE EV POWERHOUSE BYD ECLIPSES TESLA WITH RECORD 2024 EARNINGS

Imagine a bustling Shenzhen street, electric autos humming past, their sleek lines catching the sun as a factory churns out the future on four wheels.

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BYD, China’s electric vehicle titan, dropped a financial bombshell, revealing a record-breaking 777.1 billion yuan ($107.2 billion) in earnings for 2024, outpacing Tesla’s $97.7 billion haul, according to a Shenzhen stock exchange filing.

For drivers, tech enthusiasts, and market watchers, it’s a tale of a scrappy underdog turned global juggernaut, elbowing past its American rival with a mix of grit, innovation, and a knack for seizing the moment.

This isn’t just a numbers game. BYD’s haul marks a 29% leap from the year before, a surge fueled by a staggering 4.27 million vehicle sales—up over 40% from 2023—and a net profit of 40.3 billion yuan ($5.55 billion), climbing 34%.

Tesla, the electric pioneer, hit a wall with its first annual sales dip in a decade, delivering 1.79 million autos while grappling with profit squeezes and a polarizing CEO. BYD’s ascent isn’t quiet—it’s a roar, echoing from China’s bustling lots to Europe’s cobblestone streets.

The story starts in Shenzhen, where BYD’s factories hum day and night, churning out everything from zippy compacts to hybrids that blend battery and gas.

Last year, the company didn’t just sell autos; it sold a vision—affordable, electric, and everywhere. February alone saw 318,000 units roll out, a 161% jump from 2023, while Tesla’s numbers sagged. It’s a tale of momentum meeting opportunity, with BYD riding China’s trade-in deals and a hunger for green wheels to a record finish.

SHENZHEN’S SPEED DEMON