BYD Co.’s sales last year surpassed the $100 billion mark, leapfrogging Elon Musk’s Tesla Inc., as the Chinese auto giant wows consumers with a range of electric and hybrid cars packed with high-tech features.

Shenzhen-based BYD reported revenue of 777 billion yuan ($107 billion) for the 12 months ended Dec. 31, up 29%, according to a filing late Monday, beating estimates for 766 billion yuan. Tesla’s 2024 revenue was $97.7 billion. The Chinese EV maker’s net income rose 34% to 40.3 billion yuan, beating analyst estimates for 39.5 billion yuan.