BYD, backed by Berkshire Hathaway, has made a significant leap in the Fortune Global 500, rising from No. 212 to No. 143 in just a year. This marks BYD’s third consecutive year on the list, underscoring its rapid growth in the automotive sector. In 2023, BYD achieved remarkable success, with annual revenue soaring to 602.32 billion CNY—a 42% increase compared to the previous year. This impressive growth cements BYD’s position as the fastest-growing brand in the automotive category.
The company recently inaugurated its Thailand plant in Rayong, and produced its 8 millionth new energy vehicle.
In 2023, BYD achieved a staggering 337% year-on-year increase in exports, totaling 243,000 vehicles. During the first half of this year, BYD sold 1.607 million new energy vehicles worldwide—a 28% year-on-year growth. Impressively, over 203,000 of these vehicles were exported, reflecting a remarkable 173.8% year-on-year increase.
© 2024 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.