(BRK.A), (BRK.B)
Berkshire Hathaway-backed BYD sold 88,898 passenger vehicles in October, increasing 90.9% year on year (YoY) and 12.5% month on month (MoM), according to the official data.
In particular, the New Energy Vehicle (NEV) sales reached 80,003 units, soaring 262.9% YoY.
By the end of October, the cumulative annual sales of BYD passenger vehicles topped 200,000 units.
The continued contribution of the DM-i technology fueled further success for the DM model, which saw 38,771 units sold in October, up 444.1% YoY，positioning BYD as a dominant player in China’s plug-in hybrid vehicles market.
Globally, the DM-i model also holds an important position. The Qin Plus DM-i and Song Plus DM-i took the 4th and 8th places, among PHEV market worldwide in August with sales of 13,043 and 8,731 units respectively, according to data from EV SALES/EV VOLUME.
BYD battery-electric vehicles (BEV) witnessed steady growth in sales with 41,232 units sold in October, holding its leadership in a fast-growing local BEV market.
BYD Han, the flagship NEV sedan of the Dynasty series, sold 11,087 units in October. According to China Passenger Car Association (CPCA), BYD Han ranked second among the sales rankings of mid-to-large size sedans, with sales of 10,248 units in September. So far, BYD Han’s cumulative sales have exceeded 130,000 units, with increases for seven consecutive months.
BYD e-platform 3.0 solves battery-related safety problems of the NEV and increases its range at low temperatures. It will alter people’s stereotype of BEVs. EA1, the very first model built upon this platform also enjoyed popularity in the market with 6,018 units sold in October, becoming the biggest contributor to the market for NEVs priced at around RMB 100,000.
BYD and Berkshire Hathaway
In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares for $232 million. It’s an investment that has paid off handsomely. Berkshire’s original investment of $232 million had grown in value to $5.897 billion as of December 31, 2020.
© 2021 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.