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Buffett-Backed BYD Shows How Unloved Hybrids Can Help Beat Tesla

A BYD Yuan sport utility vehicle in Beijing, China.

A BYD Yuan sport utility vehicle in Beijing, China.

Photographer: Qilai Shen/Bloomberg
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Even with disruptions from chip shortages and supply chain failures it’s been a banner year for China’s car market, the world’s largest. Sales of electric models are on track to more than double 2020’s tally and local automakers have begun prospering overseas, as well as at home.

While it’s the buzzy startups like Nio and Xpeng that command most attention, BYD — the sector veteran that counts Warren Buffett as an investor — is emerging as one of the year’s biggest winners.