Warren Buffett-backed Chinese electric car company outsells its start-up rivals

is selling far more luxury electric sedans a month than the leading start-ups in the country, even though overall sales fell 11% last year., disclosed late Tuesday that sales of battery-powered electric passenger cars fell 11% to 130,970 units last year. Overall sales, including that of commercial and oil-fueled vehicles, fell 7.46%.

However, sales improved in December, with that of battery-powered and plug-in hybrid electric vehicles surging more than 150% from the same month in 2019 to 27,594 units. Sales of BYD's "Han" electric car have also increased every month since the July launch to surpass 10,000 units in November. December figures weren't available. That's according to a transcript of an investor call accessed through the Wind Information database.BYD said it delivered 4,000 units of the new luxury electric sedan in August, and that orders had topped 40,000 at that time.

I had said this for a long time. Regular ppl moving from point A to Point B will buy a KIA or a Cheap Chinese Car in the future. They are the Real competition. When toyota enters its too late. We will settle for a cheaper product that can do the job for us.

Seems like a decent thing to be backing.

Americans bank at Bank of America, then Warren Buffet backs Chinese automaker. 😱

This company is a silence leader. They made battery more than 20 years and product BYD electric bus all over the world. Their electic car are very competitive and popular.

We should all be watching this as EV's are a lot closer to taking over the entire car market than most people think. Good to see the Chinese moving forward with this and I think this looks pretty good.

horrible

No matter who is behind EV manufacturer, it's good for the industry to have competition in the market, for all, for technology development & for costumer satisfaction

Buffett I think you’ve had your good share in life... Time to retire or school some youngsters ✌🏻💕

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Warren Buffett owns more of a Chinese electric car company than General MotorsBerkshire Hathaway holds an 8.2% stake in Chinese electric automaker BYD, more than it does of General Motors, Warren Buffett said in a letter to shareholders. thanks for this news because GM is for boomers. Also, this is super old news. bash reddit less, and open your eyes and you might find news. He also sold shares of Apple to buy shares of an oil company. It's time to retire.
Source: CNBC - 🏆 12. / 72 Read more »