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Key Points
BYD Company ADR (OTC: BYDDY) has crossed the $100 billion revenue mark in 2024, reporting approximately RMB 777 billion ($106 billion) in revenue and RMB 40 billion ($5.5 billion) in net profit. The Chinese automaker is witnessing significant growth despite intense competition in the EV market.
Growth and Expansion
BYD is the leading manufacturer of electric vehicles in China and is expanding its presence internationally, with a new factory opening in Thailand (150,000-unit annual capacity) and plans to scale production in Brazil from an initial 150,000 to 300,000 units. It also operates factories in Hungary and plans another in Turkey, increasing its total production capacity to half a million cars per year.
Investor Considerations
While BYD shows strong potential for growth, risks include intense competition in the EV sector, geopolitical tensions affecting overseas expansion, and challenges in establishing a brand image comparable to higher-end brands like Tesla. Long-term success depends on BYD’s ability to position itself as a global automotive brand.
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