Chinese automaker BYD has released its financial report for 2022, revealing that it reached US$61.4 billion (RM270.6 billion) in operating income last year and achieved a net profit of US$2.4 billion (RM10.6 billion), which is a 403% increase on his net profit in 2021,informed.
The automaker sold 1.85 million vehicles in 2022, of which almost half (49.5%) were fully electric vehicles and 50.5% plug-in hybrids; BYDin April of last year. Of these, 97% of its cars were sold in China, with an average per vehicle of around US$24k (RM105,806) and an average profit per vehicle of around US$1,200 (RM5,290), according to the report. . .
BYD founder and CEO Wang Chuanfu announced that the automaker is confident it will sell three million new energy vehicles (NEVs) in 2023, yet it aims to sell 3.6 million units this year, which would double the sales volume it achieved in 2022. BYD succeeds in doing so, it will become the best-selling Chinese automaker by the end of this year, Chinese car news informed.
After BYD’s first target of selling 3.6 million vehicles by 2023, its second target is to overtake Volkswagen to become the top-selling automaker in the Chinese market this year, the report added.
Plans for the Denza brand were also unveiled, with the company anticipating selling 20,000 units a month, spread evenly acrossand the .
According to the report, BYD’s total revenue from new energy subsidies last year was around US$1.5 billion (RM6.6 billion) or 62% of its annual profit. Other EV makers in China have also received significant subsidies, with the report quoting analysts as saying that Tesla could receive US$500 million (RM2.2 billion) in China for the full year of 2022.
The latest battery EV officially unveiled by BYD is thewhich is priced in China between 80,000 yuan and 100,000 yuan or between RM51k and RM64k.
Meanwhilehe and the are scheduled for their respective launches in Malaysia in the fourth quarter of this year. These will follow the what was it in December 2022.