Warren Buffett-Backed BYD Rapidly Scaling BEV Sales, Marks Near 50% YoY Jump In November – BYD (OTC:BYDDF), BYD (OTC:BYDDY)

BYD Co Ltd, the Chinese electric vehicle (EV) maker, has reported a significant increase in sales volume for the month of November. The company sold a total of 301,903 new energy vehicles, representing a 31% year-over-year jump. This includes 30,629 units sold overseas.

However, compared to October, the growth in sales was flat at around 0.02%. BYD’s new energy vehicles consist of both passenger and commercial vehicles, including fully electric and hybrid models.

In the battery electric vehicle segment, BYD sold 170,150 units, a nearly 49% increase compared to the previous year. This rapid growth has brought BYD in close competition with U.S. EV giant Tesla Inc in terms of all-battery electric vehicles. In Q3, BYD shipped approximately 432,000 BEVs, just slightly lower than Tesla’s 435,000 units.

One of the factors contributing to BYD’s success is its decision to stop production of oil-fueled vehicles in April last year and focus solely on new energy vehicles. In November, the company produced 316,510 vehicles, marking a 37.5% increase.

BYD’s achievement is significant as it recently announced that its 6 millionth new energy vehicle, a BAO 5 SUV, rolled off the production line. This milestone comes just three months after reaching 5 million NEV production and a year after hitting the 3 million mark. It’s worth noting that BYD took 13 years to produce its first million new energy vehicles.

The company’s rapid growth and success in the EV market highlight the increasing global demand for electric vehicles and the competitiveness of Chinese automakers. BYD’s focus on new energy vehicles and its commitment to sustainability have positioned it as a major player in the industry.

In conclusion, BYD’s impressive sales volume in November demonstrates its strong position in the EV market. With its commitment to new energy vehicles and continued growth, BYD is poised to further solidify its position as a leader in the global electric vehicle industry.