BYD business booms in April

BYD Company (1211) said it recorded a 134 percent year-on-year growth in April's vehicle sales to 106,042.

All the sales were made from new energy vehicles, which surged 3.1 times from last year's numbers, while none were attributed to fuel-driven vehicles, compared to 19,572 in the same period of 2021.

The Chinese electric vehicle maker has stopped production of fuel-powered automobiles since March.

Of the 105,475 passenger vehicles it sold last month, battery electric vehicles amounted to 57,403, up 2.67 times year-on-year, and the sales of plug-in hybrid electric vehicles also rocketed seven times to 48,072, the EV giant said in a filing yesterday.

Car sales in the first four months of this year soared by 1.66 times from a year ago to 397,420, it said.

The Warren Buffett-backed company grew its net profit by 241 percent to 808.4 million yuan (HK$967.8 million) in the three months ended March 31 from a year earlier.

Aiden He