BEIJING, Sept 1: Chinese electric vehicle maker BYD reported rising global sales for the fourth straight month, as robust exports continued to cushion the impact of sluggish domestic demand.
Total sales climbed 17.8% from a year earlier to 440,293 vehicles in August, while overseas shipments jumped 134.5% to 189,466 vehicles, according to Reuters calculations based on BYD’s disclosure on Tuesday.
That strategy is contributing to profitability. The world’s largest EV maker by shipments generated more revenue overseas than in China for the first time in the January to June period, with growing vehicle exports helping lift gross profit margins.
Brazil, BYD’s largest market outside China, has become a key pillar of that overseas growth. The company is preparing to launch its first locally produced plug-in hybrid flex-fuel vehicle there, aiming to capitalise on surging demand as it deepens its manufacturing footprint in Latin America’s largest auto market.
The growing contribution from international markets provided a buffer against weakening profitability at home. BYD posted its first quarterly profit rise in more than a year, although the rebound in the second quarter fell short of expectations as competition in China’s auto market remained intense.
About BYD
BYD (Build Your Dreams) is a Chinese multinational company specializing in electric vehicles (EVs), batteries, and renewable energy solutions. Founded in 1995 by Wang Chuanfu, BYD has grown to become one of the world’s leading EV manufacturers, with a significant presence in China and expanding globally.
Its product lineup includes a wide range of electric vehicles, from passenger cars and buses to trucks and forklifts. The company has gained recognition for its innovative battery technology, including lithium-ion batteries and blade batteries, which offer improved safety and energy density. BYD’s vehicles have been adopted by various countries and cities worldwide, contributing to the transition towards sustainable transportation.
In recent years, BYD has accelerated its global expansion, entering new markets, and partnering with local companies to further its growth. The company has also invested heavily in research and development, focusing on autonomous driving, vehicle-to-everything (V2X) technology, and other cutting-edge innovations. With its commitment to electric mobility and sustainable energy, BYD is poised to play a significant role in shaping the future of transportation and energy.
