Overview
- From 2020 to 2025, BYD’s sales rose to 4.6 million vehicles as revenue hit 804 billion yuan and net income reached 33 billion yuan.
- BYD ended gas-car production in 2022, then its EV and hybrid push helped it top Tesla’s unit volumes in 2024.
- The company makes its own LFP batteries along with motors, chips, and power electronics, which cuts costs as production scales.
- Analysts model 2025–2028 growth with revenue and net income rising about 13% and 24% a year, supported by exports, faster charging, AI features, and added capacity.
- Shares trade at less than one times this year’s sales versus Tesla at 13 times, with tariffs, trade tensions, and a cooler EV market pressuring the valuation.