Car companies "in the arena"/ BYD 107 billion dollars in revenue for 2024, Tesla in difficulty,

There are three letters that keep Tesla bulls awake at night: BYD, the "Build Your Dreams" leading car manufacturer in China.

It is rapidly gaining ground in the global market, with the exception of the United States, due to trade restrictions on Chinese imports.

On Monday, BYD reported $107 billion in revenue for 2024, surpassing the $100 billion mark for the first time and improving annual revenue ahead of Tesla by about $10 billion.

This data came after BYD revealed a system based on which the car is intended to travel 400 km after just 5 minutes of charging. On the other hand, Tesla is experiencing a crisis.

Global sales fell last year for the first time ever, and this year isn't looking so promising. Competitors are also eating into its market share. 

Tesla's core products haven't had significant updates in years, and a long-promised low-cost model has yet to materialize.

In a 2011 interview, Elon Musk dismissed a Bloomberg interviewer's question about the Chinese carmaker.

"Have you seen their car?" he asked rhetorically. But it seems the situation is no longer the same as it was nearly a decade and a half ago. 

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