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Buffett-Backed Electric Carmaker BYD Sees 8,000% Jump in Net Cash Flow

A BYD Co. Tang vehicle on sale at the company's showroom in Beijing.

A BYD Co. Tang vehicle on sale at the company's showroom in Beijing.

Photographer: Qilai Shen/Bloomberg

Strong demand for BYD Co. electric vehicles in China, the world’s biggest market for battery-powered cars, has triggered an 8,312% jump in net cash flow from operations, underpinning the Warren Buffett-backed company’s strongest first quarter in six years.

The Shenzhen-based automaker said the 11.9 billion yuan ($1.8 billion) of net cash flow from operating activities it reported for the three months through March 31 in earnings released Wednesday -- the highest ever recorded in a first quarter -- was mostly spurred by cash “received from sales of goods and provision of services.”