BYD outsells Tesla: A look at their latest tech innovations
What's the story
BYD has beaten Tesla in annual revenue for 2024. The Shenzhen-based company's revenue jumped a whopping 29% to an impressive CNY 777 billion ($107 billion).
The surge was mainly fueled by the strong sales of its hybrid vehicles, exceeding Tesla's revenue of $97.7 billion.
BYD sold some 1.76 million EVs last year, closely following Tesla's 1.79 million units. However, when hybrid car sales are taken into account, BYD trumped with a record global sale of 4.3 million vehicles in 2024.
Innovation #1
BYD's new EV: Challenger to Tesla's Model 3
Just recently, BYD launched a new, affordable car model—Qin L—to take on Tesla's Model 3, which has been China's best-selling electric vehicle (EV) for years.
Priced at just CNY 119,800 in China, it offers a more affordable option than the basic version of Tesla's Model 3 which costs around CNY 235,500.
It boasts a range of up to 545km and comes standard with the free God's Eye C smart driving system.
Innovation #2
'God's Eye' advanced driver-assistance technology
In February, BYD announced its "God's Eye" advanced driver-assistance technology would be available free of charge across all models.
The base model, God's Eye C, uses a three-camera cluster behind the windshield.
The advanced God's Eye B features a LiDAR sensor for better vehicle perception and is powered by DiPilot 300 system with 300 TOPS computing power.
The top-tier God's Eye A system has three LiDARs, a host of cameras, and a more powerful computer.
Innovation #3
BYD's new tech charges EV battery in just 5 minutes
Despite facing economic challenges such as a property crisis and high local government debt, BYD continues to innovate.
Just last week, the company's founder Wang Chuanfu unveiled new battery charging technology that can charge an EV in just five minutes.
That's much faster than Tesla's supercharger system, which takes around 15 minutes for a significant charge.
BYD's Super e-Platform leverages re-engineered blade battery packs capable of handling charging multipliers of up to 10C and charging power of up to 1,000kW.