On May 1st, BYD announced that in April 2024, the production of new energy vehicles reached approximately 334,000 units, a year-on-year increase of 59.49%.
In April, BYD's new energy vehicle sales reached around 313,200 units, up 48.96% year-on-year, with a total of 41,011 new energy passenger cars sold overseas.
According to the announcement, BYD's total installed capacity of new energy vehicle power batteries and energy storage batteries in April is approximately 12.559GWh, with a cumulative installed capacity of around 42.295GWh by 2024.
BYD's financial report for the first quarter of 2024 shows that the company's revenue increased by about 4% year-on-year to 124.94 billion yuan, with a net profit attributable to shareholders of listed companies of 4.56 billion yuan, a year-on-year increase of 10.62%.
In terms of research and development, R&D expenses increased by 70% year-on-year to around 10.611 billion yuan, reaching a historical high and surpassing Tesla's R&D expenses of 1.15 billion US dollars during the same period.
It is worth mentioning that BYD's gross profit margin in the first quarter reached 21.88%, an increase of 4.02 percentage points year-on-year.
