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Buffett-Backed BYD Outdoes Nio, Xpeng EV Sales: What Investors Need To Know

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Aditya Raghunath
·2 min read
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Chinese automaker BYD Co Ltd (OTC: BYDDF) is outshining leading rivals in the luxury electric sedan monthly sales despite an 11% year-over-year drop in total electric passenger car sales in 2020, reports CNBC. BYD sold 130,970 units of battery-powered electric vehicles in 2020.

What Happened: In December 2020, BYD’s combined sales of electric and plug-in hybrid vehicles increased to 27,594 units, a 150% YoY growth.

The “Han” electric sedan has been the key sales driver for BYD, crossing 10,000 units in the first five months of its launch since July, CNBC noted. Individual sales figures for December 2020 is currently not available.

BYD’s Han is performing at par with market peer Nio Ltd (NYSE: NIO), and better than other peers like Xpeng Inc (NYSE: XPEV) and Li Auto Inc (NASDAQ: LI), as per CNBC.

Why Does It Matter: Among the  Warren Buffet-backed company's Chinese rivals in the EV segment, Nio topped the leader board. It doubled its YoY growth clocking 43,728 unit sales in 2020, with sales peaking at 7,000 units in December.

Xpeng, the Guangzhou-based EV maker, disclosed Monday that 2020 deliveries grew by 112% YoY to 27,041 units. In the fourth quarter, Xpeng recorded 303% YoY growth and a 51% sequential rise. December was the best month for Xpeng, with monthly deliveries standing at 5,700 units, a 326% increase on a YoY basis, and a 35% increase over November.

Li Auto reported that deliveries in the fourth quarter were approximately 14,146 units, of which 6,106 units were delivered in December. Total deliveries for 2020 crossed the 30,000 milestones in a mere 12 months since its launch on Dec. 4, 2019.

Price Action: BYD ADRs jumped 6.77% higher to close at $59.88 Tuesday.

Click here to check out Benzinga’s EV Hub for the latest electric vehicles news

Image Courtesy: Wikimedia

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