In a stunning turn of events, Chinese automaker BYD has reported annual revenue of 777 billion yuan, surpassing Tesla. With a 29% increase from last year, BYD's rapid development in EVs and new battery technology is reshaping the market landscape.
BYD has introduced a revolutionary ultra-fast EV charging system that allows drivers to fully charge their vehicles in just 5 to 8 minutes, rivaling traditional refueling times. This leap in technology aims to eliminate range anxiety and bolster the EV transition in China, where sales of new energy vehicles surged 40% last year. With plans to install over 4,000 charging stations, BYD is positioning itself as a formidable competitor in the EV market, even as it pressures Tesla's stock.
