China Auto Giant BYD Sells More Electric Vehicles Than Ever

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https://www.nytimes.com/2024/01/01/business/byd-2023-sales.html

By Claire Fu and Rich Barbieri, The New York Times. 

Excerpt: The Chinese corporate giant BYD said Monday that it sold three million battery-powered cars in 2023, its most ever, capping a turbulent year for China’s electric vehicle industry. ...BYD last year sold 1.6 million fully electric vehicles and another 1.4 million hybrids, which are powered by both batteries and gasoline. Together that is a 62 percent increase over 2022. BYD is also making money, tripling its profit to $1.5 billion in the first half of last year. ...the China Association of Automobile Manufacturers... said it expected sales in 2024 to rise again, to 11.5 million. ...companies are pouring money into factories and research, often fueled by loans from state-owned banks and assistance from municipalities.... 

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