Chinese automaker BYD Co Ltd’s BYDDF all-electric vehicle sales soared in April and the company sold more than twice as many electric vehicles as its closest rival Nio Inc NIO during the month amid supply chain constraints that have roiled global auto production.
What Happened: BYD, backed by Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) Chairman Warren Buffett, sold 16,114 battery-powered electric vehicles in April, a 61.7% jump year-on-year, compared with Nio’s delivery of 7,102 electric vehicles in the month.
On a year-to-date basis, BYD’s battery-powered electric vehicle sales nearly doubled YoY to 54,713 vehicles, a jump of about 95%. In comparison, Nio has delivered 27,162 vehicles this year, as of April-end.
In the new energy vehicle category, which includes hybrid as well as pure-electric cars, BYD scored 25,662 sales in April, a jump of nearly 128.5%.
The BYD sales also came ahead of other Chinese rivals Li Auto Inc LI and XPeng Inc XPEV.
Li reported deliveries of 5,539 in April, a climb of 111.3% from last year. Xpeng said its April deliveries totaled 5,147, which represented 285% year-over-year growth.
Price Action: Shares of BYD closed 3.34% lower at $18.80 on Friday. Those of Nio closed 0.71% higher at $36.94, Li Auto closed 1.50% higher at $18.26 and Xpeng closed 1.18% higher at $26.69.
Photo by Remko Tanis on Flickr
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