In the face of fierce competition, BYD manages to boost its earnings in China's electric vehicle sector. The company's impressive 33% profit margin surge brings its profits to 9.1 billion yuan (approximately 1.15 billion euros) as of half-year figures, marking the largest profit growth since 2023's close. Revenue also experienced a 24% climb, reaching 176.2 billion yuan in the third quarter.
With an aim to boost its annual revenue by 20%, BYD offers appealing discounts on its popular Dynasty and Ocean series. This strategy helps the company maintain its leading position in China's rapidly expanding new energy vehicle (NEV) market, which includes pure electric vehicles and those with hybrid powertrains. BYD shipped 426,039 fully electric cars during the second quarter, slightly surpassing Tesla's 443,956 units sold. In Germany, BYD reported 1,432 vehicle deliveries, with 4,317 registered vehicles at the start of the year.
To outperform competitors, BYD adopts a multi-faceted approach. This includes having a vertically integrated supply chain, which allows for cost savings through in-house production of batteries, semiconductors, and electric drivetrains. BYD also expands its product portfolio and geographic reach, aiming for significant growth in overseas markets. A smart pricing strategy, innovative technology integration, and global market penetration complete BYD's winning formula for success in China's fierce electric vehicle market.
