In 2024, BYD reported higher revenue than Tesla, spurred by strong sales of hybrid vehicles amid growing electric vehicle competition. Wang Chuanfu, chairman and president of BYD, celebrated the company's rapid growth, highlighting its achievement as the first automaker to produce 10 million new energy vehicles by November. BYD's new Super e-Platform, reportedly allowing a 400-kilometer range with five minutes of charging, drew praise from analysts, who believe it could transform the EV user experience, although the claim is yet to be verified.