**BYD Sets New Record with $107 Billion in Revenue for 2024: A Milestone in Global EV and Green Technology Leadership**
*Shenzhen, China – April 2025* — The Chinese electric vehicle (EV) and battery powerhouse, BYD Co. Ltd., has disclosed a groundbreaking financial achievement, announcing a remarkable $107 billion in revenue for the fiscal year 2024. This signifies a substantial increase from its earnings in 2023, further cementing BYD’s role as a worldwide frontrunner in electric mobility and renewable energy domains.
### A Year of Unmatched Growth
The impressive revenue figure of $107 billion indicates a year-over-year boost of over 30%, spurred by soaring demand for electric vehicles, strong battery sales, and vigorous expansion into global markets. BYD’s varied portfolio, spanning electric cars, buses, trucks, batteries, and solar energy solutions, has positioned the company to take advantage of the worldwide transition towards sustainable transport and clean energy.
Chairman and President Wang Chuanfu attributed the company’s achievement to its vertically integrated supply chain, swift innovation cycles, and bold global expansion strategy. “The year 2024 was transformative for BYD. Our dedication to green technology and sustainable transport has resonated with consumers and governments, propelling our growth in all major markets,” Wang remarked in a statement.
### EV Sales Propel Record Revenue
The core EV division of BYD was the main contributor to its record revenue. The company sold over 3.8 million electric and plug-in hybrid vehicles in 2024, outpacing its nearest rivals and retaining its title as the world’s leading EV producer by volume. Popular models like the BYD Seal, Dolphin, and the high-end Yangwang U8 SUV experienced robust demand in both domestic and international arenas.
BYD’s success in the electric vehicle realm can be largely credited to its ability to produce high-quality vehicles at attractive prices, owing to its in-house manufacturing of batteries, semiconductors, and electric drivetrains. The company’s Blade Battery technology, recognized for its safety and longevity, continues to set it apart in the increasingly competitive EV landscape.
### Global Expansion and Strategic Collaborations
In 2024, BYD significantly broadened its global presence. The company entered fresh markets in Europe, Southeast Asia, Latin America, and Africa, establishing local assembly plants and forging strategic partnerships with regional distributors and governmental entities. A notable achievement was the commencement of production at its new manufacturing facility in Hungary, aimed at efficiently serving the European market.
Additionally, BYD enhanced its footprint in the commercial vehicle sector, providing electric buses and trucks to municipalities and logistics providers worldwide. The company’s electric buses are now operational in over 70 nations, contributing to the advancement of cleaner public transport systems.
### Diversification Beyond Vehicles
While electric vehicles constitute the foundation of BYD’s operations, its energy storage and solar divisions also experienced significant growth in 2024. The company’s energy storage solutions were widely embraced by utilities and commercial clients seeking to stabilize power grids and decrease reliance on fossil fuels.
Production of BYD’s solar panels also intensified, with installations rising in both residential and industrial markets. The integration of its battery and solar operations has positioned BYD as a key player in the global renewable energy landscape.
### Challenges and Future Prospects
Despite its noteworthy performance, BYD encounters hurdles due to increasing global competition, regulatory shifts, and supply chain uncertainties. Nevertheless, the company remains optimistic regarding its future outlook.
As it looks towards 2025 and beyond, BYD plans to invest significantly in research and development, concentrating on next-generation battery technologies, autonomous driving, and artificial intelligence. The company has also revealed intentions to introduce a new luxury EV brand aimed at competing with Tesla, Mercedes-Benz, and BMW in the high-end segment.
### Conclusion
BYD’s unprecedented $107 billion in revenue for 2024 represents a pivotal milestone in the company’s journey and highlights its crucial role in the global shift toward sustainable transport and energy. As governments and consumers continue to emphasize environmental responsibility, BYD’s integrated strategy for green technology positions it for sustained success in the future.
With its unwavering innovation, global aspirations, and commitment to sustainability, BYD is not merely riding the EV wave—it is actively driving it.
