BYD showed profits on electric vehicles

29 April 2019

The Chinese manufacturer increased its profit in the first quarter of 2019 7.2 times

The world's largest manufacturer of electric vehicles, the Chinese company BYD Co. (and not raspiarennaya Tesla) reported net profit growth in the first quarter to 632 per cent (!), due to the high demand for NEV, which includes electric vehicles (BEV), rechargeable hybrids (PHEV) and electric vehicles with fuel cells (FCEV).

The BYD Tang electrocreaser EV version of 2018 is one of the leaders of the Chinese market BEV

Company that produces electric vehicles and batteries, with its headquarters in Shenzhen, and established a joint venture with Daimler AG in China, said last month that it expects profit growth in the first quarter by almost 800 percent (!).

Real income grew to ¥749,73 million ($of 111.4 million) compared with ¥102.4 million a year earlier, when the company's revenues fell sharply due to the reduction of subsidies for electric vehicles.

Modern design, reasonable price and continuous modernization, allowing to take the next strip of subsidies – that's the secret of the success of the brand BYD 

In addition, BYD said it expects first half net profit growth to ¥1.45 billion to ¥1.65 billion against ¥479,1 million for the same period last year.

In the exchange message of the company says: "it is Expected that machine to the new energy will continue to sell well in the second quarter, while sales of new cars and revenue will continue to grow", adding that new models of passenger and commercial electric vehicles will help to increase the income of the company.

Compact electrocreaser BYD Song EV400 has a bar run 400 km

The market for electric vehicles China is on the rise, but profits in this sector until now was limited to competition between major automakers and the competing startups, as well as the actions of Beijing to reduce subsidies on electric vehicles to improve product quality and technological standards.

Dashboard Song EV400 almost no different from the usual crossover with the engine

In the first three months of 2019 117 BYD sold 578 units of electric vehicles, which is 5.2% more than the year before. Overall, in 2019 the company BYD, whose lineup includes the popular electric car series Tang tends to sell 650 000 EV.

Compact electrocreaser BYD Yuan EV360 is designed for advanced urban youth 

Total sales of electric vehicles in China rebounded in 2018, 62% to 1.3 million NEV, according to the China Association of automobile manufacturers (CAAM). This year's SAAM believes that NEV sales reach 1.6 million

Electrostan Qin EV450 increased reserve popular especially among taxi drivers

Last month, Beijing raised the bar of standards for electric cars eligible for subsidies, and also reduced the amount of subsidy which it is prepared to provide producing companies with NEV.

PS last week the Vice-President of Toyota of America Nord launched into a tirade about the fact that electric cars none of the "normal market" producers earn nothing, supposedly the battery is $34 000 and the electric car is sold for the same $34 000, so that the "gain" no not obtained. And the example of Tesla Inc., regularly showing a loss, only acknowledgement. He also noted that Chinese manufacturers EV due to the huge subsidies the Chinese state, just to profit out easily enough. Let's see how this is a segment leader as BYD will be able to further increase profitability in the most promising segment of the national market, and, in the face of shrinking state subsidies. Nevertheless, BYD became the first automaker in the world, who was able in 2018 to get the most profit from electric cars and hybrids, not conventional vehicles (ICE). .