Chinese BYD Broke a Record in the Electric Vehicle Market
China's electric vehicle industry continues to attract the world's attention. Although Western countries have taken various tax measures to stop the rapid growth in this sector, Chinese companies are increasing their competitiveness. One of them is BYD, which started to serve in our country.
BYD Doubled Its Revenue in the First 9 Months of the Year
BYD published its financial reports and announced that it earned revenue between $9 billion and $2.87 billion in the first 3.15 months of the year. This figure means an increase of between 120 percent and 140 percent compared to the same period last year.
BYD broke a record by selling more than 287 thousand vehicles in September alone. The company, which sold a total of 2.07 million vehicles this year, is approaching its 3 million target by the end of the year. BYD, which has a large share especially in electric vehicle sales, reinforces China's leadership in this field.
BYD Transformed from Battery Production to an Automotive Giant
BYD was originally founded as a battery manufacturing company. However, he later entered the automotive industry and focused on electric vehicles. BYD, which also benefits from China's incentive policies for electric vehicles, has become a global brand.
BYD offers electric models in both passenger and commercial vehicle segments. The company, which also operates in our country, produced Turkey's first electric bus. It is also said that it will cooperate with TOGG, Turkey's first domestic electric car.
BYD has a record-breaking performance in the electric vehicle market. While China's leadership in this field continues, it is a matter of curiosity what strategy Western countries will follow.