BYD EV Automaker, Backed by Warren Buffet, is Outselling Rivals in China
China makes up the world’s largest auto market, so what’s happening in the country with vehicle manufacturers will influence what happens in the world’s transition to zero-emission vehicles.
On Wednesday, it was reported that automaker BYD is outselling most of China’s other electric vehicle (EV) startups, in spite of a nearly 11% decrease in the sale of electric passenger vehicles, according to CNBC.
BYD, which is backed by American billionaire Warren Buffett, has seen increases in the sale of its Han EV sedan every month since July, even through November when the company delivered over 10,000 Han EV units.
I’ll say it again…BYD dude. You need to take a deeper look at them. Warren Buffet did and is HODLING. Bigger % gains ahead for this EV behemoth over others.
— TeslaForza (@TeslaForza) January 5, 2021
The BYD Han comes in both hybrid and electric versions, and is currently selling better on its own than startups Li Auto and Xpeng Motors, while keeping up comfortably with fellow automaker Nio. While Tesla has continued to hit record sales in China, and double Han’s BYD EV sales in November, BYD also has a shot at competing with the global tech automaker.
As investor interest in EVs continues to mount, the significance of BYD’s success remains – with Nio, Xpeng, Li Auto, Tesla, and even BYD themselves receiving major investments in recent months.
While BYD is seeing success, Tesla continues to increase in popularity in China. The American automaker’s Model Y SUV is now sold out for Q1, as new purchases are showing delivery dates of sometime in Q2.
In any case, BYD’s continued success will likely not stop in 2021. With numbers like these, its next few years as a company are looking bright, if it can keep selling as well as it has in recent months.