BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla
- Buffett-backed carmaker reported sevenfold jump in 2015 profit
- BYD new-energy vehicle sales rose three times to 58,000 units
A BYD electric car is charged at the company's campus in the Pingshan district of Shenzhen.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
BYD Co., the Warren Buffett-backed Chinese car-and-battery manufacturer, may boost deliveries of electric vehicles by as much as three times this year in its home market, underscoring the rising demand that’s prompting Tesla Motors Inc. to step up its expansion.
BYD may sell as many as 150,000 new-energy vehicles this year, compared with the 58,000 it delivered in 2015, Chairman Wang Chuanfu said at a briefing in Hong Kong. The company surged the most in more than five months in intraday trading in Hong Kong after predicting first-quarter profit may rise more than 50 percent from a year earlier.