BYD Shares In Decline Despite Making $100 Billion In 2024, Surpassing Elon Musk's Tesla

BYD is one of the most consequential companies in China and, arguably, one of the most important companies in the electric carmaking business. The company recently reported record-breaking sales figures, with the company fetching the mark of USD 100 billion in 2024.

BYD Surpasses Tesla

This is being seen as a major achievement for the Shenzhen-based company that was launched in 2003.

What is more important about this piece of information is the fact that the company, in the bargain of reaching the USD 100 billion mark also surpassed its biggest rival in the EV market, Tesla.

The Elon Musk-led company has gotten off to a troubled start this year. With low January sales, coupled with unprecedented protests across the board against Tesla and Elon Musk at large, the American giant and a member of the Magnificent Seven have vied more than a little.

Tesla, which made a flurry of sales and pulled all the stocks in the latter half of 2024, saw its total revenue reach the mark of just under USD 100 billion or more precisely, USD 97.3 billion.

Despite this big development, the company shares don't appear to have woken up with expected acceptance and jubilance.

The company shares listed on the Shenzhen Exchange dipped in the intraday trade on Tuesday, March 25.

BYD Shares In Red

The company shares started the day at CNY (Chinese Yuan) 377.98, higher than the previous day's closing of CNY 375.36 per share.

Right before turning away for lunch break at the Shenzhen Index, the company shares suffered majorly, dipping by a total of 0.90 per cent or CNY 3.36.

This, at the time of writing, brought the overall value of the company stocks down to CNY 372.00 per share.

In the past 5 days of trade, the BYD stocks have lost a cumulative of over CNY 12.81 or around 3.33 per cent or its value.