Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

BYD pulls ahead of Tesla as it surpasses $100bn in EV revenues

by March 25, 2025
March 25, 2025
BYD pulls ahead of Tesla as it surpasses $100bn in EV revenues

Chinese electric vehicle manufacturer BYD has overtaken Tesla in global revenue, cementing its position as a serious contender for dominance in the electric vehicle (EV) market.

The Shenzhen-based company reported a 29 per cent surge in global revenues for 2024, reaching 777 billion yuan (£84 billion / $107 billion), crossing the $100 billion milestone for the first time. In comparison, Tesla’s revenue stood at $97.7 billion over the same period.

Founded in 1995 and backed by US billionaire Warren Buffett, BYD – short for “Build Your Dreams” – has been rapidly expanding its international footprint, including a growing network of showrooms in the UK. Its rise has been accelerated by aggressive pricing, particularly in its home market, and a growing portfolio of models across both all-electric and plug-in hybrid segments.

Unlike Tesla, BYD produces a mix of zero-emission vehicles and petrol-electric hybrids, enabling it to appeal to a broader consumer base. While pure electric vehicle deliveries for both manufacturers are closely matched at just under 1.8 million units annually, BYD’s more affordable pricing has played a pivotal role in boosting its market share.

The company also recently made waves with its announcement of a breakthrough charging technology, claiming to deliver 232 miles of range in just five minutes – though this has yet to be independently verified in the UK or Europe.

Tesla continues to face headwinds in key markets. In Europe, February sales figures showed the US firm slipping behind Volkswagen, BMW, and several Chinese competitors. According to figures from JATO Dynamics, new EV registrations in Europe fell 2.5 per cent year-on-year to 966,000 vehicles in February. However, Chinese manufacturers defied the downturn, increasing their market share by 82 per cent to 40,600 vehicles. Chinese EV brands alone accounted for 19,800 sales – comfortably ahead of Tesla’s 15,700, which represented a 34 per cent drop.

In the UK, BYD’s footprint remains smaller but is growing. The company sold 8,800 vehicles in 2024, compared to Tesla’s 50,000. In the first two months of 2025, BYD registered 2,800 UK sales, while Tesla sold 5,300.

Tesla’s challenges extend beyond vehicle sales. The company’s CEO, Elon Musk, has become an increasingly polarising figure in global politics. His public support for hard-right parties in Europe, including posts on his X platform (formerly Twitter) backing Germany’s Alternative für Deutschland, has prompted concerns among some European consumers. His vocal backing of Donald Trump’s presidential campaign has also raised eyebrows, particularly in markets more wary of US political rhetoric.

Industry analysts suggest this political entanglement, coupled with Tesla’s limited model line-up and the anticipated phase-out of the current Model Y, may be contributing to a shift in consumer sentiment.

“Tesla is experiencing a period of immense change,” said Felipe Munoz, global analyst at JATO Dynamics. “In addition to Elon Musk’s increasingly active role in politics, and the increased competition it is facing within the electric vehicle market, the brand is phasing out the existing version of the Model Y — its best-selling vehicle — in anticipation of the introduction of a new, refreshed version. Brands like Tesla, which have a relatively limited model line-up, are particularly vulnerable to registration declines during model transitions.”

Despite a rocky start to the year – with shares down nearly 30 per cent – Tesla stock rallied in New York on Monday, closing up 11.9 per cent at $278.39 following reports that Donald Trump’s proposed reciprocal tariffs may be less aggressive than previously expected.

With BYD eyeing a major European push this spring and growing scrutiny around Tesla’s leadership and brand perception, the global EV race is entering a decisive phase. For now, the momentum appears to be shifting in BYD’s favour.

Read more:
BYD pulls ahead of Tesla as it surpasses $100bn in EV revenues

0
FacebookTwitterGoogle +Pinterest
previous post
No signal, no problem: Intelligence firm debuts drone tech equipped to beat GPS jammers
next post
Are UK SMEs missing out on valuable Research and Development (R&D) tax relief?

You may also like

Nearly three quarters of SMEs owners feel isolated...

May 12, 2023

Ministers urge RMT union to halt rail strikes...

December 2, 2022

Michael Shanly’s Commitment to Purposeful Development Realised in...

February 10, 2025

Broadband boost for 380,000 rural premises as UK...

April 10, 2024

Creating a Foolproof Holiday Budget: The Role of...

December 14, 2023

How Technology Enhances the World of Dating

June 18, 2024

Choosing Gifts for Your Loved Ones This Year:...

October 25, 2022

SME lending delays slashed by 80% thanks to...

June 10, 2025

Business co-founded by TV couple Lorri Haines and...

May 31, 2023

Goldman Sachs to cull 3,200 jobs as part...

January 11, 2023

Nearly three quarters of SMEs owners feel isolated...

May 12, 2023

Ministers urge RMT union to halt rail strikes...

December 2, 2022

Michael Shanly’s Commitment to Purposeful Development Realised in...

February 10, 2025

Broadband boost for 380,000 rural premises as UK...

April 10, 2024

Creating a Foolproof Holiday Budget: The Role of...

December 14, 2023

How Technology Enhances the World of Dating

June 18, 2024

Choosing Gifts for Your Loved Ones This Year:...

October 25, 2022

SME lending delays slashed by 80% thanks to...

June 10, 2025

Business co-founded by TV couple Lorri Haines and...

May 31, 2023

Goldman Sachs to cull 3,200 jobs as part...

January 11, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Frasers Group secures potential £3.5bn war chest to fund growth and acquisitions

      July 3, 2025
    • Roomix raises £850k to expand family-focused custom furniture platform

      July 3, 2025
    • House advances Trump’s massive agenda bill after fiscal hawks cave

      July 3, 2025
    • Technological Innovation: How are Greece and the UK Leading the Way?

      July 3, 2025
    • Trump turns to Supreme Court in fight to oust Biden-era consumer safety officials

      July 3, 2025
    • Bush teams up with notorious Trump foes to trash ‘colossal mistake’ shuttering USAID

      July 2, 2025

    Categories

    • Business (8,368)
    • Investing (2,094)
    • Politics (15,922)
    • Stocks (3,187)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved