July 2, 2023 11:06 PM | One minute read
Warren BuffettThe supported Chinese EV giant BYD partner (OTCPK: BYDDY) (OTCPK: BYDDF), reported a jump in sales last month.
What happened: Battery electric vehicle shipments for the month of June were up 84.3% from a year earlier and 7.2% month over month to 128,196 units.
Hybrid-electric vehicle sales rose to 123,489 units from 64,218 year-over-year, with total passenger vehicle sales increasing 88.2% to 251,685 units.
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Production numbers were similarly up, with production of the battery EV and plug-in hybrid electric vehicle up 86.1% and 87.6% from a year earlier, respectively.
The company’s overseas sales volume of new energy passenger cars rose to 10,536 units, compared with 10,203 units in May. However, the numbers are still lower than those from earlier this year — the company reported overseas sales volume of 15,002 units in February.
why does it matter: In all, BYD delivered 1,255,637 new energy vehicles year-to-date in June. The numbers stand higher than US electric car giant Tesla, which delivered 889,015 as of the end of the same period. However, Tesla only makes battery electric cars.
BuffettHowever, its stakes in the Chinese electric car maker have been steadily reduced. Berkshire HathawayBYD’s stake is now 8.98%.
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