BYD’s profit could double in Q1, as deliveries keep racing ahead of Tesla

While Trump’s tariffs have been a major bump in the road for other automakers, BYD — which had no plans to sell cars in the US owing to existing tariffs, even before this latest round — has had a pretty smooth year so far, with shares hitting a record high in March, after the company announced its market-leading superfast charging tech. 

Less than a week later, execs and investors at the Shenzhen-based company had even more to cheer, after the EV giant posted 777 billion yuan ($107 billion) in sales across 2024, surpassing US rival Tesla’s annual revenue figures for the first time in 7 years. 

BYD lagging Tesla on that measure has often been down to the Chinese automaker’s comparatively cheap cars, too, with one of its most popular EVs starting around $10,000. On model deliveries overall, BYD has been pulling ahead for years now.

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