Invested by Berkshire Hathaway, BYD is also a battery maker that’s become a major electric car brand in China and notifying that some of its models are vying with Tesla in popularity.
BYD, the leading Chinese electric car manufacturer, reports sales more than double in May, solidifying the company’s climb into the ranks of the top three automakers in China. According to the China Association of Automobile Manufacturers(CAAM), BYD only ranked 13th in passenger vehicle sales. In contrast to the performance of last year, for the first five months of the year, BYD won the second place. (FAW-Volkswagen ranked first by sales followed by and Changan Automobile)
China is the largest automobile market worldwide, both in terms of demand and supply. China's automobile registrations climbed to approximately 21.1 million units in 2020, representing a rise of around 6.6%. Invested by Berkshire Hathaway, BYD is also a battery maker that’s become a major electric car brand in China and notifying that some of its models are vying with Tesla in popularity.
From the beginning of 2022, not only has BYD continued to dominate new energy vehicles, including hybrid and battery-powered cars, but the company also climbed into the ranks of the top three brands in China by passenger car sales. Despite Covid lockdowns in several major cities that negatively impacted supply chains and Chinese consumer sentiment, BYD sold 113,768 new energy passenger vehicles in May, the data from CAAM showed. Whether in SUVs or smaller passenger cars, BYD accounted for two of the top three bestselling new energy models in China in May, according to association data, while its main competitor NIO and XPEV missed the rank.