New Delhi, April 1 -- Chinese electric vehicle (EV) giant BYD has officially overtaken Tesla in revenue, marking a major shift in the global EV industry. According to BIS Research, Electric vehicle market estimated to witness growth at CAGR of 28.3% and we can see BYD reported a record-breaking revenue of 777.1 billion yuan ($107.2 billion) in 2024, driven by soaring demand for its electric and hybrid vehicles across Asia, Europe and Latin America.

This marks a pivotal moment in the competition between the world's two leading EV manufacturers, as Tesla, founded by Elon Musk, has long been considered the dominant force in the electric car sector. However, BYD aggressive pricing strategy, localized manufacturing, and diverse product portf...