BYD Reports Record Sales of Electric Vehicles

BYD Co. Ltd, a leading Chinese electric vehicle (EV) manufacturer, reported a remarkable 41.26% year-on-year increase in new energy vehicle (NEV) sales for 2024, totaling over 4.27 million units, of which 1.76 million were fully electric cars. The company's success is attributed to its innovative technologies, including solid-state batteries and blade battery technology, enhancing safety and efficiency. In December alone, BYD sold 514,800 new energy vehicles, solidifying its position as a market leader alongside its competitors like Li Auto and Nio. As BYD expands its international footprint, with a 71.9% increase in overseas passenger NEV sales, it poses a significant challenge to Tesla for global EV dominance. The growth in sales aligns with China's commitment to greener technology and the increasing global demand for clean energy vehicles. BYD's aggressive pricing strategy and expansion into hybrid vehicles have further fueled its sales growth, highlighting its pivotal role in the EV market.