By Peter Landers

The good times are rolling for BYD, the Chinese automaker that is now among the biggest in the world. Here's why:

-- BYD said Monday that its revenue last year grew to the equivalent of $107 billion, topping $100 billion for the first time and besting Tesla's revenue of $97.7 billion for the year. BYD's profit at $5.5 billion trailed Tesla's $7.1 billion, but it is catching up fast.

-- The Chinese automaker, which makes full electric vehicles and plug-in hybrids, has a new fast-charging system that it says can give an EV about 250 miles of range after just five minutes of charging. It's a limited rollout to start with, available on just two BYD models and only on certain chargers in China.

-- Like other Chinese carmakers, BYD is racing ahead of Tesla in offering advanced driver-assistance features to Chinese customers. BYD said in February it would make its "Eyes of God" driving-assistance software available in all models including one under $10,000. Cars with the technology can self-park and cruise on city roads with minimal human intervention, according to the company. Regulatory difficulties have held Tesla back from offering something similar in China.

-- BYD sold 4.3 million vehicles last year, edging out Honda to become the sixth-largest automaker in the world by vehicle sales, according to research firm Inovev. Only Toyota, Volkswagen, Hyundai-Kia, General Motors and Jeep maker Stellantis were ahead.

-- BYD Chief Executive Wang Chuanfu on Monday said that he wanted BYD to expand its global reach. But that will be difficult in the U.S., which has imposed a 100% tariff on Chinese EVs, and perhaps other nations in Europe and beyond that are concerned about a sudden influx of Chinese imports.

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(END) Dow Jones Newswires

March 24, 2025 10:20 ET (14:20 GMT)

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