Islamabad, Mar 28, 2025: BYD has announced its financial results for 2024, achieving historic highs in revenue, net profit, and research and development (R&D) investments.
The company reported a total revenue of RMB 777.1 billion, marking a 29% year-on-year growth, while net profit attributable to shareholders surged 34% to RMB 40.25 billion.
Unprecedented Growth in R&D and Financial Strength
In a demonstration of its commitment to technological advancement, BYD invested RMB 54.2 billion in research and development (R&D), reflecting a 36% increase compared to the previous year.
With this, the company’s cumulative research and development (R&D) expenditure has surpassed RMB 180 billion, reinforcing its leadership in innovation.
The company’s domestic tax contribution reached a record RMB 51 billion, underscoring its role as a key economic contributor.
Meanwhile, cash reserves climbed to RMB 154.9 billion, ensuring strong financial stability and resilience.
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Breakthroughs in Innovation and Patents
BYD continued to prioritize innovation, averaging 45 patent applications and 20 granted patents per working day in 2024.
Throughout the year, the company introduced cutting-edge technologies that set new industry standards.
Earlier in the year, BYD launched its “Integrated Vehicle Intelligence” strategy, seamlessly merging electrification with advanced automation.
The company also equipped its vehicles with the DiPilot Advanced Intelligent Driving Assistance System, which includes a mapless city navigation function, positioning BYD among the leaders in autonomous driving technology.
In March, BYD unveiled its groundbreaking “Super e-Platform” technology, featuring 1,000kW (1 megawatt) charging power the fastest charging capability for mass-production electric vehicles to date.
BYD’s Vision for the Future
With record-breaking achievements in financial performance, innovation, and sustainability, BYD continues to solidify its dominance in the global electric vehicle and technology sectors.
The company’s commitment to research, smart vehicle integration, and next-generation charging solutions further strengthens its position as a leader in the global transition to electrification.
As BYD advances into 2025, its continued investment in cutting-edge technologies is expected to drive further growth and reshape the future of intelligent mobility.
