18.8 C
Saturday, July 13, 2024

Warren Buffett-Backed BYD Continues To Trump Elon Musk’s Tesla In Deliveries – BYD (OTC:BYDDF), BYD (OTC:BYDDY)

Must read

- Advertisement -

Warren Buffett-backed Chinese EV giant BYD Co BYDDY BYDDF, recorded a jump in sales last month.

What Happened: Battery electric vehicle deliveries for June rose 84.3% from a year earlier and 7.2% month-over-month to 128,196 units. 

Plug-in hybrid electric vehicles sales increased to 123,489 units from 64,218 year-on-year, with overall passenger vehicle sales up 88.2% to 251,685 units. 

Production numbers surged likewise, with battery EV and plug-in hybrid EV production up 86.1% and 87.6% from a year earlier, respectively. 

- Advertisement -

The company’s overseas sales volume of New Energy Passenger Vehicles rose to 10,536 units as compared to 10,203 units in May. However, the numbers still fall short of numbers from earlier this year- the company reported an overseas sales volume of 15,002 units in February

Why It Matters: All in all, BYD delivered 1,255,637 new energy vehicles year-to-date in June. The numbers stand higher American EV giant Tesla who delivered 889,015 till the end of the same period. Tesla, however, makes only battery electric vehicles.

Buffett, however, has been steadily reducing stake in the Chinese EV maker. Berkshire Hathaway‘s stake in BYD now stands at 8.98%.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

- Advertisement -

Read More: Lordstown Motors Receives Nasdaq Delisting Notice After Filing For Bankruptcy

Source link

- Advertisement -

More articles


Please enter your comment!
Please enter your name here

Latest article