This Warren Buffett-Backed Chinese EV Maker Reports June Sales Up Over 240% From A Year Ago

Zinger Key Points
  • BYD produced 68,195 BEVs and 66,302 plug-in hybrids in June.
  • The company installed battery capacity was at 6.859 gigawatt-hour in June.

Chinese electric vehicle manufacturer BYD Company Limited BYDDY reported Sunday deliveries that more than tripled from a year ago.

The Shenzhen-based EV maker delivered 69,544 battery EVs in June, up over 240% from the 20,016 units sold in the year-ago period. In May, the company sold 53,349 vehicles.

Additionally, the company sold 64,218 plug-in hybrids, taking its total new-energy vehicle sales to 133,762.

Warren Buffett-backed BYD weathered the China COVID-19 lockdowns fairly well and reported solid sales even in April, a month, in which the pandemic resurgence was at its peak in China.

Related Link: Tesla AI Job Cuts, Nio Stung By Short Report, Ford's F-150 Lightning Recall, Faraday Future The New Meme Stock In Town: Week's Top News From EV Industry

BYD's domestic rivals Nio, Inc. NIO, XPeng, Inc. XPEV and Li Auto, Inc. LI also reported a pick up in the pace of deliveries in June.

EV giant Tesla, Inc. TSLA reported on Saturday a quarter-over-quarter decline in its global deliveries, with the company blaming the predicament on supply chain issues and lockdowns.

Meanwhile, BYD produced 68,195 BEVs and 66,302 plug-in hybrids in June, the company said.

The company, which also manufactures EV batteries, said its installed battery capacity was at 6.859 gigawatt-hour in June.

U.S.-listed ADRs of BYD closed Friday's session down 0.94% at $79.72, according to Benzinga Pro data.

Photo: Courtesy of Claudio Núñez on Flickr

Posted In: electric vehiclesNews