United Kingdom, March 26 -- BYD's annual revenue has surpassed Tesla.

The Chinese electric vehicle company witnessed a 29 percent increase in revenue for 2024, meaning that the overall figure reached 777 billion yuan ($107 billion) last year.

BYD's annual revenue topped that of Tesla, the Elon Musk-led electric vehicle company, which has an annual revenue of $97.7 billion.

BYD sold 1.76 million electric vehicles in 2024, compared to 1.79 million sold by Tesla.

However, the Chinese company managed to sell a record 4.3 million vehicles globally in 2024, thanks to the sale of its hybrid cars.

Stephanie Valdez Streaty, a director of industry insights at the car sector marketing and software firm Cox Automotive, recently claimed that Tesl...