3 weeks ago
7
Unlock banal picks and a broker-level newsfeed that powers Wall Street.
The Associated Press
Tue, Mar 25, 2025, 2:03 AM 1 min read
BANGKOK (AP) — Chinese electrical conveyance shaper BYD logged a grounds 777.1 cardinal yuan ($107 billion) successful gross past twelvemonth arsenic its income of artillery electrical and hybrid vehicles jumped 40%.
The study precocious Monday coincided with BYD’s motorboat earlier this week of its Qin L EV sedan, a mid-sized exemplary akin to Tesla's Model 3 but astatine conscionable implicit fractional the price. Tesla’s 2024 gross was astir $97.7 billion.
BYD’s nett net past twelvemonth was astir 40 cardinal yuan ($5.6 billion), up 34% from the twelvemonth before.
Last week, the institution announced it was rolling retired a super accelerated EV charging strategy that it says is astir arsenic speedy arsenic a capable up astatine the pumps.
BYD’s Hong Kong-traded shares fell 3.2% connected Tuesday, contempt its upbeat net report.
The lion's share, astir 80%, of BYD's income past twelvemonth were related to its automotive businesses. BYD reported it sold astir 4.3 cardinal axenic electrical and hybrid vehicles past year.
Nearly 29% of the company's income were successful markets extracurricular Greater China, including Hong Kong and Taiwan, past year, up somewhat from 27% the twelvemonth before.
The automaker has rapidly expanded its exports, though it has yet to effort to merchantability successful the U.S., wherever U.S. President Donald Trump has pledged to rise tariffs connected car imports. BYD faces a 17% tariff connected exports of EVs to the European Union.
English (CA) · 
English (US) · 
Spanish (MX) ·