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.”
