Annual BYD sales above 100 billion dollars for the first time

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The annual BYD sales amounted to 100 billion dollars for the first time, as China’s electrician hero dominates its local market and presses expansion abroad.

Structurally based Byd The aforementioned revenues increased by 29 percent to 777 billion yuan ($ 107 billion) last year, exceeding RMB76BN expectations by analysts, against the backdrop of strong demand for the component hybrid. The group’s net income in the group increased by 34 percent to 40 billion yuan last year.

Unlike its rival in the United States, Tesla, which only sells all electric cars and reported $ 98 billion in revenues last year, BYD benefited from the demand for which China was recovered on hybrid cars.

In the wake of a year -long price war in China, the largest EV market in the world, BYD also began to shift from an aggressive pricing strategy designed to win the market share to focus on trying to enhance its profit.

“The main players have moved away from the market, including the BYD, from the” price for size “approach,” said Serena Shen, S& P Global Mobility. “Instead, they are trying to raise retail prices by creating and updating their models.”

The results create a noticeable 12 -month for the Chinese group, which this year sought to make the squad more attractive by presenting many new technologies, including what is called it God’s eye Advanced leadership system.

Wang Chanto founder Last week, the niqab revealed the battery charging system that the company said will allow customers to do so EVS fees in five minutesHelp in sending their shares to a standard level.

The stocks fell from the highest level last week, but they gained 91 percent over the past 12 months. They closed 3 percent at $ 403.40 Hong Kong on Monday.

On the contrary, the shares in Tesla, which did not reach the annual revenue teacher worth $ 100 billion, decreased by 32 percent this year after achieving a record level in December after Donald Trump’s victory in the elections.

BYD is also pushed forward with aggressive expansion outside China, and it is betting that he can undermine old car makers such as Volkswagen and Toyota in markets from Europe to Southeast Asia.

Last month, BYD, whose sales abroad crossed 400,000 cars out of a total of more than 4 million, raised nearly 6 billion dollars to finance their growth outside China. The group, which made up about 16 percent of all cars exported from China in January and February, opened factories in Thailand and Uzbekistan last July.

BYD at the forefront of a boom in Chinese clean technology exports. In addition to cars, the company produces a range of energy -related technologies, including lithium batteries for widespread energy storage and solar units.

The company’s rise raised concerns between car makers and Western governments about the progress made by China in battery technology. Last year, the European Union imposed a very slope tariff on Chinese electric cars, a step that followed an investigation by the bloc to Beijing, which claims it provides an unfair support for the industry.

BYD international ambitions have also raised questions about how to deal with the most difficult standards of employment and environmental. Its development of $ 1 billion was delayed in Brazil in December when the authorities stopped building on workers who are under “slavery”.

BYD later launched a Chinese contractor and said that he “never tolerated” for not respecting local laws and human dignity.