Byd increased its profit by around a third to 40.3 billion yuan (5.1 billion euros) last year. This emerges from a message to the stock exchange in Hong Kong on Monday. Sales swelled by 29 percent to 777 billion Yuan, which is the equivalent of around 99 billion euros. The numbers were better than expected from analysts on average. BYD sold 4.25 million cars, including 1.76 million pure electric cars. This year the Chinese market leader wants to sell between 5 and 6 million cars.
BYD is mainly thanks to its favorable Electric cars in China On the rising branch, also because the electric car market there continues to grow rapidly and lag behind foreign manufacturers during development times and costs. In 2023, BYD lies the Wolfsburger VolkswagenGroup with its core brand the market leadership in China, which has been held for decades.
During US rival Tesla Most recently had problems in the People’s Republic, BYD’s growth continues in the first months of the new year. In 2024, Tesla was still slightly ahead worldwide with pure battery cars with 1.79 million vehicles. BYD has now overtaken the Americans in sales. In 2024, Tesla came up with an annual turnover of a good 90 billion euros.
BYD also produces battery storage systems. The company recently presented a charging system in its electric cars five minutes of loading time the battery capacity should be able to absorb range for 400 kilometers. BYD also introduces advanced driver assistance systems in cheaper models.
The share listed in Hong Kong has climbed by around half this year alone. On Monday, the paper attracted another 5 percent.