(BRK.A), (BRK.B)
Berkshire Hathaway-backed BYD reported it sold 97,990 passenger vehicles in December, up 77.9% year-on-year, and BYD’s passenger vehicles sales reached 730,093 for 2021, up 75.4% YoY.
BYD’s annual passenger new energy vehicle (NEV) sales grew by 231.6% YoY to 593,745, setting a new sales record in China. NEV sales rose sharply by 236.4% YoY and reached 92,823 units in December.
In December, BYD EV and hybrid models sold 48,317 and 44,506 units with YoY growth of 148.0% and 448.6%, respectively. BYD sales volume has achieved record high, thanks to the core technologies including the blade battery, DM-i (BYD’s super hybrid system), as well as the e-platform 3.0. The annual EV and DM model sales reached 320,810 and 272,935 with YoY growth of 144.9% and 467.6%, respectively.
BYD sold 13,701 units of Han model, a leading position among mid-to-large size sedans from Chinese local brands in December. In particular, 10,301 units of the Han EV were sold. The Tang SUV series sold 9,000 units last December, with almost 100% YoY growth, which showed its outstanding product power with a total of 54,204-unit sales in 2021.
The Yuan series sold 8,577 units last December and over 41,000 units in 2021, making it a leader in the small all-electric SUV segment. The Yuan Plus started its pre-sales in China on 2022 New Year’s Day. As the very first SUV built on the e-platform 3.0, the Yuan Plus will be launched to the Singapore market in 2022.
In December, the sales of EA1 surpassed 10,000 units easily, reaching 10,016 units in only one month. The EA1 has met the market demands precisely and become the most popular vehicle in the segment.
In 2021, BYD has accomplished monthly sales growth for 10 consecutive months. In response to China’s strategic goals of peaking carbon dioxide emissions before 2030 and achieving carbon neutrality, as well as to make contributions to the “Cool the Earth by 1℃” initiative. BYD, as the Chinese NEV industry leader, will leverage its unique advantages to offer more NEVs and other green solutions in 2022.
BYD is aiming to sell 1.2 million vehicles in 2022.
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.
© 2022 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.