The profit for BYD increased by 446% to 16.6 billion yuan, or $2.4 billion, exceeding the company’s initial net earnings forecast that it had previously provided in January. In 2021, BYD reported 3 billion yuan, equivalent to 436 million dollars, in profit. The top EV producer in China said that it sold a significant number of vehicles in the past calendar year, which increased business earnings.
BYD, owned in part by Warren Buffet, is one of the companies best positioned to benefit from China’s expanding electric vehicle industry. After winning domestically, the company is now…
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