Etiqueta: exports

BYD has achieved record-breaking sales of electric and hybrid vehicles in the second quarter, according to sales data compiled by Bloomberg News.

02 Jul 2024 - BYD, the world's biggest maker of electrified vehicles, has revealed record sales for June and the second quarter. However, this growth occurred at a slowing pace, suggesting that China's electrified vehicle market is losing momentum.

BYD Co sold a record number of electric and hybrid cars in the second quarter (2Q), sales data compiled by Bloomberg News shows, as price cuts and new technology stoked consumers into purchases. China’s best-selling car brand sold nearly one million models over the period, solidifying a rebound after a slow start to the year. The sales were driven in part by the company’s move to reduce prices across most models earlier this year, sacrificing profitability, to target gasoline models made by foreign brands.

The first phase of BYD's Uzbekistan plant will produce the plug-in hybrid models Song Plus DM-i and Chazor DM-i, with an estimated annual capacity of 50,000 units.

Volvo had previously said it would begin selling the EX30 in the United States later this year, but a spokesperson on Wednesday told Reuters that deliveries will not start until 2025, in part due to the introduction of tariffs of more than 100% on Chinese EV imports by the U.S. government. U.S. President Joe Biden unveiled steep tariff hikes on Chinese imports last month, including over 100% on EVs, up from 27.5% earlier. Volvo, the Swedish luxury brand owned by China's Geely, started building the EX30 in Zhangjiakou, China, and said last year it would expand production of the small electric SUV to a plant in Belgium beginning 2025.

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