(BRK.A), (BRK.B)
BYD, the Chinese automobile manufacturer with the backing of Berkshire Hathaway, is making waves in the automotive industry, setting new sales records and expanding its reach.
In October, the company achieved an astounding milestone by selling 301,833 electric vehicles (EVs), surpassing its previous monthly sales record by 8.85 percent and, for the first time, crossing the 300,000-vehicle mark.
BYD’s remarkable success is further underscored by its year-on-year sales growth of 220.3 percent. These figures attest to the company’s growing dominance in the fiercely competitive automotive market as it ventures into new territories.
The expansion of BYD into Hungary is a testament to the company’s commitment to sustainable transportation. Hungary becomes the 19th European country to embrace BYD’s vision of eco-friendly mobility, marking a significant milestone for both the company and the Hungarian market.
BYD’s success in the new energy vehicle (NEV) sector is no accident. The company has been a pioneer in the NEV revolution, leveraging its expertise in battery technology and electric powertrains to create a range of popular vehicles that are not only environmentally friendly but also 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.