Warren Buffett-backed automaker sells more electric cars in March than Nio and Xpeng delivered

SourceCNBC
SectorTransport
CountryGulf

Chinese battery and electric vehicle maker BYD shows off a model of its Han EV series at the 2020 Beijing auto show. BEIJING — Chinese automaker BYD sold more than twice as many battery-powered electric cars as start-up Nio delivered in March. BYD, which is backed by U.S. billionaire Warren Buffett, disclosed Tuesday that sales of its battery-powered passenger cars totaled 16,301 units last month. That's more than double Nio's deliveries in March of 7,257 cars. Rival start-up Xpeng delivered even fewer vehicles, at 5,102 units last month. Both companies still beat analysts' expectations with those figures. In the new energy vehicle category, which includes hybrid as well as pure-electric cars, BYD sold more than 23,000 units in March — that brings the total in the first quarter to 53,380 cars. BYD also sold nearly as many oil-fueled vehicles in the first quarter, at 49,394 units. ...read more...