ISLAMABAD: Leading Chinese electric car maker BYD’s vehicle sales surged in 2024, the company said in a statement, as the firm grows its overseas presence.
The EV and battery giant is the most prominent of Chinese automotive firms expanding abroad, according to AFP.
Sales up 41.3 per cent
BYD sold 4,272,145 vehicles last year, up 41.3 per cent from 2023’s 3,024,417 units, the company said Wednesday, AFP reported.
In December alone, BYD sold 57,154 vehicles outside of China — a 58.3 per cent jump from the same period in 2023. But BYD still sold almost 90 per cent of its cars in its home market in December 2024.
The majority of the company’s 2024 sales were for plug-in hybrid models — 58 per cent of total units sold.
BYD — which adopts the English slogan “Build Your Dreams” — is the biggest EV manufacturer in China, the world’s largest automotive market.
Surpasses Tesla
The company’s quarterly revenue surpassed global rival Tesla’s for the first time during the third quarter last year.
BYD’s figures come after global EV sales hit a record 1.8 million units in November, according to industry research company Rho Motion.
“This quarter has picked up significantly for EV sales globally as we see record-breaking month after record-breaking month,” Rho Motion expert Charles Lester said in a press release last month.
“However, the regional picture is somewhat uneven with Europe shrinking three per cent this year so far and once more China accounts for over two thirds of the electric vehicles sold in November,” the AFP reported
Zero-emission solutions
According to the company’s website, BYD, founded in November 1994, is a high-tech company devoted to leveraging technological innovations. BYD has played a significant role in industries related to electronics, auto, renewable energy and rail transit. With a focus on energy acquisition, storage, and application, BYD offers comprehensive zero-emission new energy solutions, it says.
Annual revenue
As a company listed on both the Hong Kong Stock Exchange and Shenzhen Stock Exchange, its annual revenue in 2023 exceeds RMB 602 billion, the company’s website states.
