Beijing:
The Chinese car manufacturer ByD saw an increase in income last year, a presentation of shares showed on Monday, exceeding the $ 100 billion brand and beat its rival Tesla when the company based in Shenzhen accelerates its expansion abroad.
Byd has emerged in recent years as the clear leader in the China highly competitive electric vehicle market, which is the largest in the world.
The country’s automotive champion registered 777.1 billion yuan ($ 107.2 billion) in revenues by 2024, eclipssing the $ 97.7 billion in revenues last year previously announced by Tesla.
The BYD figure represented a 29 percent increase in 2023 and was higher than a Bloomberg prognosis of 766 billion yuan.
The company’s net profit last year amounted to 40.3 billion yuan, 34 percent more than 2023 and reaching a record.
The price of the company’s shares also reached a peak of all time this month, after it presented a new battery technology that, according to him, allows a vehicle to travel up to 470 kilometers (292 miles) after loading for only five minutes.
Byd says that its new battery and load system has 1,000 kW speeds, ahead of Tesla supercharges, which currently offer 500 kW speeds.
(Except for the headline, this story has not been edited by NDTV staff and is published from a union feed).
