BYD surpasses Tesla with $107 billion in annual sales, leading EV market and unveiling groundbreaking battery technology.

In Short

BYD’s annual revenue of 777 billion yuan for 2024 surpasses Tesla’s, driven by strong hybrid vehicle sales. The company has introduced groundbreaking battery technology, potentially revolutionising electric vehicle charging and positioning itself as a leader in the automotive market.

Chinese automaker BYD has reported annual revenue of 777 billion yuan, equivalent to $107 billion for 2024. This achievement surpasses that of U.S. competitor Tesla, which reported annual revenue of $97.7 billion.

BYD’s revenue increase of 29% from the previous year is attributed to strong sales of its hybrid vehicles.

Wang Chuanfu, BYD’s chairman, commented on the company’s swift growth, highlighting its status as the first automaker to roll out 10 million new energy vehicles by November.

He noted that BYD is now a leader in batteries, electronics, and new energy vehicles. This marks a significant shift in the global market, challenging established foreign brands.

In a recent announcement, BYD introduced a new battery technology claiming to enable electric vehicles to charge almost as fast as refuelling a petrol car.

The company’s Super e-Platform is reported to allow vehicles to achieve approximately 249 miles of range with just five minutes of charging.

Analysts have described BYD’s new battery platform as groundbreaking, suggesting that it could significantly alter consumer behaviour regarding electric vehicle ownership.

As competition in the electric vehicle sector intensifies, BYD’s advancements position it strongly against Tesla and other rivals in the industry.

The developments signal an important moment in the evolution of electric vehicles, with potential implications for the future of automotive technology.

US and Ukraine announce Black Sea truce, contingent on Kremlin’s sanctions relief conditions.

In Short

The US announced a ceasefire agreement between Russia and Ukraine in the Black Sea, contingent on Russia lifting certain sanctions.

Both sides have committed to observing the truce, yet achieving a complete ceasefire remains uncertain, with potential future concessions from Russia.

The United States announced that Russia and Ukraine have reached a ceasefire agreement in the Black Sea, conditioned on the removal of specific sanctions by the Kremlin.

The agreement emerged from three days of technical talks in Saudi Arabia, focusing on ensuring safe navigation in the Black Sea and preventing military use of commercial shipping. The US pledged assistance in restoring Russian access to global agricultural markets and reducing maritime insurance costs.

President Donald Trump noted that conditions from the Kremlin would be considered, particularly regarding sanctions on banks involved in agricultural exports. The truce would take effect upon lifting restrictions on the Russian Agricultural Bank and others, tying them to the SWIFT international payment system.

Ukrainian forces

Ukrainian President Volodymyr Zelenskiy announced an immediate observance of the truce by Ukrainian forces. The two sides also agreed on mechanisms to enforce a ban on attacks against energy infrastructure, effective for 30 days.

While the talks advanced some agreements, achieving a full ceasefire remains challenging, as Russia may seek to extract further concessions from the US.

Ukrainian Defense Minister Rustem Umerov expressed confidence in US support for compliance with the agreements. However, full ceasefire timelines proposed by the Trump administration appear overly ambitious to some officials.

Zelenskiy confirmed Ukraine’s commitment to a full ceasefire, highlighting the contrast between Ukraine’s intentions and Russia’s position.

Trump’s team reviewed accidental disclosure of airstrike plans to journalist via Signal thread, sparking criticism and demands for investigation.

In Short

The Trump administration is investigating how Jeffrey Goldberg of The Atlantic was mistakenly added to a group chat about U.S. airstrike plans in Yemen. The incident has drawn widespread criticism from both Democrats and Republicans for mishandling classified information and raised serious national security concerns.

The Trump administration is currently reviewing how Jeffrey Goldberg, editor-in-chief of The Atlantic, was inadvertently added to a Signal group chat discussing U.S. airstrike plans against Houthi militants in Yemen.

The National Security Council confirmed the authenticity of the message thread and announced an investigation into how Goldberg’s number was included. Goldberg initially expressed skepticism about the texts and considered the possibility of disinformation campaigns.

He received messages from high-ranking officials, including Vice President JD Vance and Secretary of Defense Pete Hegseth, later sharing some exchanges and screenshots in his article.

Left the group

Goldberg noted that he left the group after concluding the conversation was genuine. Within the discussion, a user identified as “JD Vance” raised concerns about the airstrike plans and their broader implications.

Following the article’s publication, Democratic lawmakers condemned the incident, calling it a serious national security breach. Criticism extended to the transmission of classified information through unsecured channels, with demands for investigations.

Even some Republicans criticized the administration’s handling of classified information. Amidst this, Trump stated he was unaware of the situation when questioned. The unfolding events highlight significant concerns about national security practices within the administration.

Democrats have likened the incident to amateurish behaviour, suggesting the need for tighter safeguards in handling sensitive information moving forward.