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BYD

Berkshire Hathaway-Backed BYD’s Sales Hits New All-Time High in August

(BYDDF), (BYDDY)

Berkshire Hathaway-backed BYD’s plug-in EV sales reached a new high for the fourth straight month. The company’s sales for August totaled 274,086 units (up 57.5% year-over-year).

Year to date, BYD has sold 1.78 million passenger plug-in EVs, up 83 percent from the same period in 2022.

The company also set a sales record for exported vehicles, with 25,023 BYD plug-ins exported.

BYD’s EV sales year-to-date:

BEVs: 897,220 +84% (year-over-year)
PHEVs: 886,132 (+82% year-over-year)
Total: 1,783,352 (+83% year-over-year)

BYD is on track to sell more than 3 million EVs in 2023.

© 2023 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.

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BYD

Byd Posts Record Earnings for First Six Months of 2023

(BYDDF), (BYDDY)

BYD, the Chinese automobile manufacturer backed by Berkshire Hathaway, posted record profits for the first six months of 2023. The company reported a 204.7% jump in profits as compared to the same period in 2022.

BYD, which is China’s largest automaker, reported net profits of 10.95 billion yuan ($1.50 billion) on revenues of 260.12 billion yuan for the period ending June 30.

During the month of June alone, BYD sold an impressive total of 253,046 new energy vehicles, a 5.3% increase over its May sales volume. The total unit sales through June 30 for BYD have reached an impressive figure of almost 1.2 million units, almost double the 641,350 units sold during the first six months of 2022.

© 2023 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.

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Business Wire

BYD Beats Tesla to 5 Million Vehicles

Tesla make get the lion’s share of the attention, but it is Berkshire Hathaway-backed BYD that is first to pass the five million new energy vehicles produced mark. BYD produced its 5 millionth new energy vehicle (NEV), a DENZA N7, on August 9th, making it the first automaker in the world to achieve this milestone.

“Today marks a historic moment for BYD as we witness our 5 millionth new energy vehicle rolls off the production line”, said Wang Chuanfu, Chairman and President of the company, at the ceremony held at BYD’s global headquarters to celebrate this momentous achievement. “On this special occasion, we would like to extend our sincere gratitude to our customers across the globe for their trust in our products, our partners in the industry for this journey shared together, and every one of our employees whose hard work and dedication have made this landmark possible.”

BYD spent 13 years for the first million new energy vehicles, another 18 months to reach three million, and today astoundingly, just 9 more months to hit the five million mark. In 2022, BYD’s new energy vehicles saw remarkable growth, with total sales surpassing 1.86 million. The momentum continued in 2023, as the company reached an impressive cumulative sales volume of 1.5 million units from January to July, including a notable 92,469 units sold overseas which exceeded the total overseas sales for the entire year of 2022. As of July 2023, BYD’s global new energy vehicle sales have soared beyond 4.8 million units accumulatively, another testament to the company’s commitment to sustainable transportation solutions.

BYD has been actively expanding its global presence since 2010, strategically introducing new energy buses and taxis for public transit electrification. With a decade of dedicated efforts, BYD’s electric public transport solutions are now operational in over 400 cities across more than 70 countries.

Meanwhile, BYD’s new energy vehicles have now made a mark in over 54 countries, with the BYD ATTO 3, one of its standout models, leading NEV sales in Thailand, Israel, and Singapore for several months.

In a significant move in July 2023, BYD announced plans for three new factories in Brazil, reinforcing its role as a driving force in the industry.

© 2023 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.

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BYD

BYD’s Billion Dollar India Plan Rejected By Modi Government

What a difference a week makes for Berkshire Hathaway-backed BYD, the world’s leading manufacturer of new energy vehicles. Just a week after BYD proposed building a $1 billion battery and automotive facility in India in partnership with Hyderabad-based Megha Engineering and Infrastructures Ltd., the plan now looks to be dead.

The Modi government has reportedly rejected the joint proposal citing security concerns “security concerns” in regards to Chinese investments in India.

BYD and Megha had proposed building up to 15,000 EV automobiles annually in the facility. The proposed joint venture would have combined Megha’s capital and BYD’s expertise in EV manufacturing.

© 2023 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.

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BYD

BYD Dolphin Debuts in Brazil

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BYD, the Chinese automobile manufacturer backed by Berkshire Hathaway, has made a significant stride in the Brazilian market with the official launch of the BYD DOLPHIN, its first pure electric model featuring its Ocean Aesthetics design.

Notably, during the launch day, an average of two units were sold every five minutes.

Having led the electric vehicle market in China for nine years and selling over 4.3 million new energy vehicles worldwide, BYD now extends its electrification wave to Brazil with the arrival of the BYD DOLPHIN.

Stella Li, the Executive Vice President of BYD and CEO of BYD Americas, expressed pride in being the first manufacturer to cease production of cars powered solely by internal combustion engines.

Tyler Li, the General Manager of BYD Brazil, emphasized the company’s commitment to providing competitive new energy models for Brazilian consumers. He stated with confidence that the BYD DOLPHIN is an excellent choice and serves as a gateway for those aspiring to own an electric car. By combining quality, advanced technology, and sustainability, BYD aims to meet the needs and preferences of the Brazilian market.

The BYD DOLPHIN, the first model designed with the Ocean Aesthetics design language, was created under the guidance of Wolfgang Egger, the Design Director of BYD. Drawing inspiration from marine elements, the vehicle showcases a vibrant and dynamic overall style. With a 2,700 mm wheelbase, the BYD DOLPHIN offers an exceptional interior space, ensuring heightened passenger comfort.

Distinguished as the first mass-produced pure electric model built on the e-platform 3.0, the BYD DOLPHIN leverages an 8-in-1 electric powertrain, significantly enhancing safety and cruising range. Equipped with the ultra-safe Blade Battery, the model boasts a pure electric cruising range of 405 km under NEDC conditions, providing consumers with a reliable and secure driving experience. Additionally, the Blade Battery charges from 30% to 80% in an impressive 30 minutes using DC charging.

The BYD DOLPHIN also offers an enjoyable and futuristic driving experience. Its intelligent cockpit system, featuring a 12.8-inch rotatable touchscreen, enables intelligent voice control, CarPlay System integration, and remote vehicle control via mobile devices. Furthermore, the model’s vehicle-to-load (VTOL) charging function caters to various outdoor power needs, further enhancing convenience for users in different scenarios.

The BYD DOLPHIN is the fifth new energy passenger car introduced by BYD in the Brazilian market. Building upon the success of previous models such as the BYD TANG, BYD HAN, BYD YUAN PLUS, and BYD SONG PLUS.

In the passenger vehicle segment, BYD has already established 24 dealership stores throughout Brazil. Looking forward, BYD aims to expand its presence even further, with plans to reach a total of 100 stores by the end of this year. This strategic expansion highlights BYD’s commitment to providing top-notch sales and after-sales services to meet the demands and expectations of Brazilian customers.

© 2023 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.

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BYD

BYD Makes Major Manufacturing Commitment in Brazil

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BYD, the Chinese automobile manufacturer backed by Berkshire Hathaway, announced the signing an agreement to establish its presence in Brazil’s state of Bahia. What makes this endeavor truly remarkable is that BYD will simultaneously commence operations in three factories within the Camaçari complex, located just 50 kilometers away from the vibrant city of Salvador.

This groundbreaking venture, with an investment exceeding R$ 3 billion (US$620 million), sets a historic milestone in the Brazilian automotive industry. However, it goes beyond mere vehicle production. BYD’s audacious mission, encapsulated in the slogan “Cool the Earth by 1°C,” represents a resolute commitment to energy transition and sustainable mobility. In essence, it signifies an irreversible green revolution.

The establishment of domestic production facilities by BYD holds the promise of more competitive prices and opens up the possibility for the car-loving population to realize their modern-era consumer dream: owning an electric vehicle parked in their garages.

The ambitious complex will comprise three distinct manufacturing units, each serving a specific purpose. One unit will be dedicated to the production of chassis for electric buses and trucks, providing a solid foundation for the future of sustainable transportation. The second unit will focus on manufacturing hybrid and electric automobiles, with an estimated capacity of 150,000 units per year during the initial phase. Lastly, the third unit will specialize in the processing of lithium and iron phosphate, catering to the global market.

Leveraging the existing port infrastructure at the location, this unit will play a crucial role in meeting the growing demand for these essential materials.

Stella Li, the Executive Vice President of BYD and CEO of BYD Americas, emphasizes the significance of this moment for BYD in the Americas. She states, “These new factories in Bahia will bring innovation and the highest standards in technology. This will enable the introduction and acceleration of electromobility in the country, a pivotal movement in combating climate change and enhancing people’s quality of life.”

The three factories are scheduled to commence operations in the second half of 2024, heralding a new era of sustainable automotive manufacturing in Brazil. In addition to the positive impact on the environment, this endeavor is expected to generate over 5,000 jobs in the coming years. Tyler Li, the President of BYD Brazil, stresses the social contribution of the project, saying, “We aim to hire local labor starting this year to provide them with the necessary training and knowledge transfer. At BYD, we are deeply committed to creating value and making a meaningful difference in the lives of Brazilians.”

BYD’s new complex is poised to attract suppliers from various sectors, including technical parts and services. The company is determined to contribute to regional development by giving priority to local suppliers. Furthermore, for civil construction works, BYD plans to prioritize hiring established companies in the region, fostering economic growth and synergy within the local business community.

As BYD forges its path in Bahia, it not only brings an unprecedented manufacturing venture to Brazil but also carries with it a vision of a greener future. With its resolute commitment to energy transition and sustainable mobility, BYD is setting a new standard in the automotive industry, paving the way for a world where innovation and environmental responsibility go hand in hand.

© 2023 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.

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BYD

BYD Signs Partnership Deal to Make Big Splash in Caribbean Market

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Berkshire Hathaway-backed BYD BYD, the fast-growing electric vehicle (EV) manufacturer, has joined forces with ATL Automotive in a strategic partnership aimed at expanding the presence of EVs across the Caribbean.

The collaboration, officially announced on June 26 in Kingston, Jamaica, signifies a significant step towards advancing transport electrification in the region.

ATL Automotive, a key player in the automotive sector since its establishment in 1997, has been at the forefront of investment in the Jamaican automotive landscape for over a decade. With a committed workforce of approximately 600 employees, ATL Automotive has garnered a reputation as the largest investor in the industry in Jamaica. Drawing upon its wealth of experience as a prominent car distributor, ATL Automotive has been appointed as BYD’s regional distributor and will oversee sales and aftersales operations not only in Jamaica but also in nine other countries, including Trinidad and Tobago, Cayman, Curaçao, Barbados, Aruba, Antigua, Saint Lucia, Guyana, and Suriname.

The future-oriented collaboration between BYD and ATL Automotive will involve the establishment of BYD showrooms across the Caribbean. In the initial phase, two showrooms will be opened in Jamaica, specifically in Kingston and Montego Bay. The Kingston showroom, dubbed the “Experience Centre,” will serve as a platform to showcase upcoming BYD models and cutting-edge technologies.

Adam Stewart, the Executive Chairman of ATL Automotive Group, expressed his enthusiasm about the partnership, stating, “As we look to the future with the world increasingly embracing electric vehicles, we sought to partner with the best electric vehicle maker, which is BYD.” Stewart further emphasized the importance of transitioning to clean energy, affirming that electric vehicles have become an enduring presence in the automotive industry. He proudly asserted the capability of Jamaican enterprise to compete on a global scale and announced that pre-orders for BYD vehicles would be accepted immediately, with deliveries scheduled to commence in October. Stewart also revealed ambitious plans for an extensive rollout of showrooms across the Caribbean, firmly establishing BYD as the region’s premier EV brand.

Neva Zhang, the Country Manager of Caribbean and Central American Countries at BYD, echoed Stewart’s sentiments and highlighted the significance of the collaboration with ATL Automotive Group. Zhang emphasized BYD’s commitment to sustainability, stating that the brand’s philosophy revolves around protecting the planet and benefiting future generations through green technologies. With a brand vision centered on cooling the Earth by 1°C, BYD aims to establish ten showrooms in the coming year in partnership with ATL Automotive, offering enhanced user experiences and promoting sustainable mobility throughout the region.

The partnership between BYD and ATL Automotive signifies a milestone in the Caribbean’s transition towards clean and sustainable transportation. With BYD’s expertise in EV manufacturing and ATL Automotive’s extensive regional presence, this collaboration promises to accelerate the adoption of electric vehicles and contribute to a greener future for the Caribbean and beyond.

© 2023 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.

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BYD

BYD Posts New Monthly Sales Record in June

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BYD, the Chinese automobile manufacturer backed by Berkshire Hathaway, continues to shatter sales records with its remarkable performance in the market. The company achieved a significant milestone in June, surpassing its previous sales record of 240,220 units, which was accomplished in May. The figures speak volumes about BYD’s unwavering success in the competitive automotive industry.

During the month of June alone, BYD sold an impressive total of 253,046 new energy vehicles, a 5.3% increase over its May sales volume. Furthermore, the year-to-date sales for BYD have reached an impressive figure of almost 1,2 million units, almost double the 641,350 units sold during the first six months of 2022. This remarkable growth signifies the company’s ability to consistently deliver high-quality vehicles that cater to the evolving needs and preferences of the modern consumer.

BYD’s success can be attributed to its commitment to technological advancements and sustainability. The company has been at the forefront of the new energy vehicle revolution, leveraging its expertise in battery technology and electric powertrains to develop popular vehicles that are both environmentally friendly and performance-oriented.

© 2023 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.

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BYD

BYD Announces Fifth Brand

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BYD has unveiled its new sub-brand, FANG CHENG BAO, which aims to meet the evolving needs of consumers by offering a range of unique and professional-grade new energy vehicle models. As the fifth addition to BYD’s brand matrix, FANG CHENG BAO complements the existing Dynasty series, Ocean series, Denza, and Yangwang.

The FANG CHENG BAO lineup covers a wide spectrum of vehicles, ranging from off-road vehicles to sports cars. The brand’s inaugural model, a rugged SUV with the codename SF, is expected to hit the market later this year. The brand name itself, FANG CHENG BAO, carries a symbolic meaning. In Chinese, it translates to “Formula” and “Leopard,” representing the pursuit of transformative rise and exploration in the digital realm. By blending the standards and rules of Formula with the agility and wild versatility of the Leopard, FANG CHENG BAO embodies the brand’s essence and BYD’s vision of future cars and lifestyles.

According to Wang Chuanfu, Chairman and President of BYD, the global e-mobility transition is often perceived as a revolution where electric cars replace vehicles powered by fossil fuels. However, BYD believes that this perspective only captures a fraction of the true transformation that lies ahead. Wang Chuanfu shared, “A greater realm is unfolding.” FANG CHENG BAO, therefore, serves as the prelude to this revolution in BYD’s vision. The brand embraces an attitude of always staying ahead of trends, envisioning a future where FANG CHENG BAO and its users decode the personalized car life through a diverse range of new energy vehicle products.

© 2023 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.

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BYD

BYD Posts New Monthly Sales Record

(BRK.A), (BRK.B)

BYD, the Chinese automobile manufacturer backed by Berkshire Hathaway, continues to shatter sales records with its remarkable performance in the market. The company achieved a significant milestone in May, surpassing its previous sales record of 235,197 units, which was accomplished in December 2022. The figures speak volumes about BYD’s unwavering success in the competitive automotive industry.

During the month of May alone, BYD sold an impressive total of 240,220 new energy vehicles (NEVs), exhibiting a remarkable growth rate of 108% compared to May 2022. This tremendous surge in sales reflects the increasing demand for BYD’s innovative and eco-friendly vehicles, which have captured the attention of consumers worldwide.

Furthermore, the year-to-date sales for BYD have reached an impressive figure of 507,314 units, marking a staggering 97% increase over the first five months of 2022. This remarkable growth signifies the company’s ability to consistently deliver high-quality vehicles that cater to the evolving needs and preferences of the modern consumer.

© 2023 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.