Photo: BYD
We’re yet to learn if BYD officially beat Volkswagen in the Chinese market in November. Although we still lack VW’s sales numbers, BYD sold 230,427 vehicles in China last month, quite a leap from the 152,863 units the China Merchants Bank International (CMBI) said it sold until November 27. However, that shows how aggressively the company is expanding. The latest move is BYD’s intention to have up to two factories in Europe.
Bloomberg discovered that in an interview with Stella Li. BYD’s executive vice president said that the company is evaluating more than one factory on the Old Continent and that it would select locations that can “support BYD’s fast ramp-up.” Expect that to be in places that make it easier to export BYD’s production at the lowest costs.
The Chinese carmaker is having issues exporting its vehicles from China. It even bought its own ships to transport the PHEVs and BEVs it manufactures. Li told Bloomberg that whenever BYD looks for shipping companies, “their service cannot really 100% satisfy us.” We would not be surprised if BYD started making its own cargo ships, just like Hyundai.
Bloomberg’s interview had another main focus: Warren Buffett selling BYD stock. For Li, it is only natural that the “Sage of Omaha” eventually wants to cash out on the investment he made in September 2008. Buffett’s Berkshire Hathaway invested $230 million at the time to buy 20.04% of the company. After reducing its stake to 15.99%, the remaining shares are worth $4.5 billion.
BYD is set to keep breaking sales records. A new factory – in Jinan, Shandong – started making cars this week. BYD’s factory in India began to produce the ATTO 3 (Yuan Plus) on December 6. The Chinese carmaker may manufacture cars in Brazil, at Ford’s old Camaçari industrial complex. Finally, the Chinese carmaker will present two new luxury brands in 2023. One of them will sell an SUV similar to the Mercedes-Benz G-Class and a sports car. In Li's words, the other will relate to styling, fashion, and treating cars as a hobby.
If that is not enough to realize how hard BYD is pushing, the 230,427 vehicles it sold in November represent 38.4% of all the 600,000 new energy vehicles sold in China that month. Among these cars, 113,915 were EVs, which is more than enough to beat Tesla’s best sales month in China.
The Chinese carmaker is having issues exporting its vehicles from China. It even bought its own ships to transport the PHEVs and BEVs it manufactures. Li told Bloomberg that whenever BYD looks for shipping companies, “their service cannot really 100% satisfy us.” We would not be surprised if BYD started making its own cargo ships, just like Hyundai.
Bloomberg’s interview had another main focus: Warren Buffett selling BYD stock. For Li, it is only natural that the “Sage of Omaha” eventually wants to cash out on the investment he made in September 2008. Buffett’s Berkshire Hathaway invested $230 million at the time to buy 20.04% of the company. After reducing its stake to 15.99%, the remaining shares are worth $4.5 billion.
BYD is set to keep breaking sales records. A new factory – in Jinan, Shandong – started making cars this week. BYD’s factory in India began to produce the ATTO 3 (Yuan Plus) on December 6. The Chinese carmaker may manufacture cars in Brazil, at Ford’s old Camaçari industrial complex. Finally, the Chinese carmaker will present two new luxury brands in 2023. One of them will sell an SUV similar to the Mercedes-Benz G-Class and a sports car. In Li's words, the other will relate to styling, fashion, and treating cars as a hobby.
If that is not enough to realize how hard BYD is pushing, the 230,427 vehicles it sold in November represent 38.4% of all the 600,000 new energy vehicles sold in China that month. Among these cars, 113,915 were EVs, which is more than enough to beat Tesla’s best sales month in China.
Google News