Etiqueta: BYD

30 Apr 2024 - Chinese EV maker BYD posted higher profit in the three months to March despite the intensifying price war in China and a surge in investment in new technologies. The Warren Buffett-backed automaker's net profit rose 11% year-on-year to 4.57 billion yuan ($US630.7 million) in the first quarter, it announced Monday night.

SHANGHAI, April 29 — Major Chinese electric carmaker BYD reported lower-than-expected revenue for the first quarter of 2024 today, as an aggressive domestic price war and...

THE BEIJING Auto Show 2024 highlighted China’s success in electric vehicle production and promotion, underscoring the state’s unwavering commitment to ...

BYD, a prominent Chinese electric vehicle (EV) manufacturer, is positioned to offset Tesla’s market share in the Chinese EV market with its latest product offering, the remarkable Sea Lion 07 model. The Sea Lion 07 is said to be designed by former Lamborghini and Audi designer Wolfgang Egger, signifying BYD’s strategic move to dominate the […]

BYD took advantage of its presence at the Beijing Auto Show to unveil the Ocean-M prototype, which previews a sports model that is expected to hit the market in the third quarter of this year. With a bold look, the Ocean-M features a front section marked by the luminous signature, with wide headlights and a […]

El mercado chino de coches eléctricos es cada vez más competitivo. Alrededor de 123 empresas automovilísticas venden coches eléctricos y amenazan a Tesla.

STORY: China's BYD posted its weakest quarterly profit growth since 2022 on Monday (April 29).Revenue growth also slowed to its lowest level in almost four years.The electric vehicle maker was hit by slowing demand and a price war in the world's largest auto market.First-quarter net profit was up around a tenth at just over $631 million, while revenue grew 4% to $17.25 billion.The quarterly results suggest BYD still pulled ahead of U.S. rival Tesla.Elon Musk's company recently reported its first quarterly revenue fall since 2020.BYD has ramped up efforts to move upmarket while doubling down on discounts.It aims to find cautious consumers amid a sputtering economic recovery.The push to sell to higher-end segments came alongside an intensified price war in China.It has led BYD to slash prices since February on the latest versions of its lineup by 5% to 20%.The auto giant is targeting an annual sales jump of a fifth this year.But, outside of big-hitters like Tesla, BYD is also under pressure from local EV upstarts betting big on an all-electric future.

A BYD Ocean-M electric car is displayed at the 2024 Auto China in Beijing on April 25, 2024. [Photo/VCG]

Chinese brand admits it needs to educate Aussies about its plug-in hybrid tech; plays down potential EV buyer backlash