Chinese BYD Electric Car Sales up 94.5% from last year

BYD….makers of a whole range of electric car in China.

The Shenzhen-based company, which is backed by U.S. investor Warren Buffett and whose products include battery electric and plug-in hybrid vehicles, posted net profit of 1.45 billion yuan ($205.29 million), up from 479.10 million yuan a year earlier.

BYD sold 145,653 so-called new energy vehicles (NEVs) between January and June, up 94.5% from a year earlier. It also sold 82,419 fuel cars, down 44.9%.

Revenue rose 14.8% to 62.18 billion yuan from 54.15 billion.

The BYD E SEED GT ….A concept created by a new design team with ex-Ferrari man JuanMa Lopez who has become BYD’s global exterior design director and Michele Jauch-Paganetti – who formerly ran the specialist interior studio of Mercedes is BYD’s global interior design director.

BYD, whose models include the Song series and the Qin plug-in hybrid electric vehicle, aims to move to completely electric-powered vehicles. It said last month it would develop battery electric vehicles (EVs) with Toyota Motor Corp.

Overall sales of NEVs in China rose 49.6% in the first six months of this year from a year earlier, but those sales fell 4.7% in July, the first drop in more than two years, as China cut subsidies on such vehicles from July.

Source: Reuters & Bloomberg