Chinese BYD overtakes Tesla – once again

Chinese BYD has already previously surpassed Tesla from the position as the world's largest manufacturer counted in the number of chargeable cars. In the third quarter of the year, BYD also surpassed Tesla in terms of revenue.

» Published: October 30 2024

Chinese BYD overtakes Tesla – once again
Photo: Alex Brandon AP/TT

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BYD's sales revenue soared to 201.0 billion yuan in the third quarter, an increase of 24 percent. This corresponds to 28.2 billion dollars (approximately 300 billion kronor).

Tesla's sales revenue was 25.2 billion dollars (around 270 billion kronor) during the same quarter.

BYD's net profit in the third quarter increased by 11.5 percent to a record high of 11.6 billion yuan – significantly better than expected.

The number of delivered rechargeable cars from BYD in the quarter amounted to 1.12 million. This can be compared to Tesla's 462,890 delivered electric cars in the third quarter.

A key area in the race between BYD and Elon Musk's electric car giant, where Tesla still has an advantage, is the delivery volume of fully battery-driven electric cars – where Tesla's 462,890 can be compared to 443,426 battery-driven cars delivered by BYD.

Tesla can also be pleased that the company is significantly higher valued by the market than BYD, with a market value of 833 billion dollars. This can be compared to BYD's 119 billion.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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