E-cars
Chinese Tesla rival BYD increases profit significantly
BYD primarily increases thanks to its cheap electric cars in China-also because the e-car market there continues to grow rapidly and behind foreign manufacturers during development times and costs.
The Chinese car manufacturer BYD significantly increased its profit last year with a strong increase in sales. The bottom line was that the Group from Shenzen made around a third more profit with 40.3 billion Yuan (5.1 billion euros), as stated from a message to the stock exchange in Hong Kong.
Sales increased by 29 percent to the equivalent of around 99 billion euros. BYD sold 4.25 million cars, including 1.76 million pure electric cars. This year the Chinese market leader wants to sell between 5 and 6 million cars.
BYD primarily increases thanks to its cheap electric cars in China-also because the e-car market there continues to grow rapidly and behind foreign manufacturers during development times and costs. In 2023, BYD led the Wolfsburg Volkswagen Group with its core brand the market leadership in China, which has been held for decades.
BYD has overtaken the Americans during sales
While US rival Tesla most recently had problems in the People’s Republic, BYD’s growth continues in the first months of the new year. In 2024, Tesla was still slightly ahead worldwide with pure battery cars with 1.79 million vehicles. BYD has now overtaken the Americans in sales. BYD also produces battery storage systems.
Only recently presented BYD a charging system in its electric cars, which should be able to absorb the battery capacity for 400 kilometers in five minutes. BYD also introduces advanced driver assistance systems in cheaper models. The share listed in Hong Kong has climbed by around half this year alone.
dpa
Source: Stern
