BYD overtakes Volkswagen: China's e-car giant reaches for Tesla!

BYD overtakes Volkswagen: China's e-car giant reaches for Tesla!

Vienna, Österreich - byd, the aspiring Chinese car manufacturer, significantly strengthened its market position last year. According to vienna.at , the company achieved a profit increase from around a third to 40.3 billion yuan (5.1 billion euros). Sales rose by 29 percent to 777 billion yuan (approx. 99 billion euros), which indicates increasing demand for electric vehicles.

The focus is particularly on the sale of electric cars. In 2024, BYD sold record -breaking 1.76 million fully electric vehicles. A total of 4.25 million cars were dropped, including plug-in-hybrids, such as Investmentweek . These impressive sales figures exceed the expectations of the analysts and bring the company closer to the Tesla industry leader.

growth and expansion

For the current year, BYD plans to sell between 5 and 6 million cars and has already taken over the market leadership in China from Volkswagen. The electric car market in China is growing rapidly, while foreign manufacturers have to deal with challenges in terms of development times and costs. In 2023, BYD Volkswagen overtaken and also found that Tesla, despite a sales of 1.79 million vehicles in the area of pure battery cars, was overtaken in the BYD turnover. This illustrates the dynamic development in the competitive environment.

An important milestone was December 2024 when BYD achieved a monthly record with 510,000 vehicles sold. While Tesla dropped 1.29 million fully electric vehicles in the first three quarters in 2024, the company would have to sell at least 467,000 vehicles in the fourth quarter to outperform BYD's annual result. Both companies are now relying on aggressive discounts.

battery technologies and international presence

Another aspect that leaves BYD from competitors is the progress in battery technology. BYD has developed a new charging system that makes it possible to charge a battery capacity for 400 kilometers in five minutes. In addition, the company produces battery storage systems and introduces progressive driver assistance systems in cheaper models.

International expansion is also an important part of the BYD strategy. With new factories in Brazil and Southeast Asia as well as an increased presence in Europe, the company would like to further expand its market shares. Due to high import tariffs, BYD currently has no access to the US market.

The global market for electromobility shows strong growth despite challenges in some regions. In China, “New Energy Vehicles” (NEV) made over 40 percent of sales volume in 2024, with around 7 million battery -electric vehicles (BEV) sold, which corresponds to an increase of 12 percent, as in a report from Fraunhofer isi . In contrast, Europe recorded a decline in the overall vehicle market, which further exacerbates the competitive conditions for manufacturers such as BYD.

The competition between Tesla and BYD is considered beneficial for the growth of the electric vehicle industry, especially in emerging countries and Europe. But while BYD continues to drive innovative developments and expand its market leadership, it remains to be seen how the global sales figures for 2024 will ultimately develop.