BYD’s annual sales top $100bn for first time

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China’s electric vehicle champions dominated its domestic market and BYD’s annual sales of BYD are at the top of $ 100 billion for the first time because of their expansion.

Revenue in the Warren Buffet-backed group rose to RMB 777 BN ($ 107 billion) last year, surpassing RMB 766 BN forecast by analysts, behind the demand for plug-in hybrids. BidiIts net income increased by 34 percent to RMB 40BN.

The Chinese company, whose overseas sales have increased last year over 5,7 vehicles, recently raised about $ 6 billion for funding for expansion plans due to focus on foreign expansion.

ByD, which had about 16 percent of cars exported from China in January and February, was building factories in Europe and South America.

Comes after strong numbers Founder Wang Chuanfu A new battery charging system has been unveiled last week that allows customers to Charge EV in five minutesThe

Since the beginning of the year, the Shenzhen-based company has introduced several EV technology to make its model line up more attractive, including the so-called God Shobar eye advanced driving system.

Bid’s Hong Kong-List stock on Monday stopped 3 percent more. This year the shares have increased by more than 50 percent, in the entire opposite of the 34 percent reduction for Tesla.

However, the market capitalization of Bid is less than one-fifth of its American rival.