Chinese manufacturer BYD has released its financial report for 2022, revealing that it has 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 an increase of 403% over its net profit in 2021, Car News China reported.
The carmaker sold 1.85 million vehicles in 2022, of which nearly half (49.5%) were fully electric vehicles and 50.5% were plug-in hybrid vehicles; BYD halted production of purely ICE-powered models in April last year. Out of these, 97% of its cars were sold in China, with the average per per vehicle at around US$24k (RM105,806) and and average profit per vehicle of around US$1,200 (RM5,290), according to the report.
BYD founder and CEO Wang Chuanfu announced that the manufacturer it certain that it would sell three million new energy vehicles (NEVs) in 2023, however it aims to sell 3.6 million units this year, which would double the sales volume it achieved in 2022. Should BYD succeed in doing so, it will become the top-selling Chinese automaker by the end of this year, Car News China reported.
After BYD’s first objective of selling 3.6 million vehicles in 2023, its second goal is to overtake Volkswagen to become the largest-selling automotive company in the Chinese market this year, the report added.
Plans for the Denza brand were also revealed, and the company plans to sell 20,000 units a month, evenly split between the Denza D9 MPV and the N7 SUV.
According to the report, total revenue for BYD that was from new energy subsidies last year was around US$1.5 billion (RM6.6 billion) or 62% of its annual profit. Other manufacturers of electric vehicles in China have also received significant subsidies, and the report cites 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 to be officially unveiled by BYD is the Seagull, which is priced in China between 80,000 yuan and 100,000 yuan or between RM51k and RM64k.
Meanwhile for the Malaysian market, the Dolphin and the Seal are set for their respective launches in Malaysia in the fourth quarter of this year. These will follow the Atto 3, which was launched in Malaysia in December 2022.
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No wonder Warren Buffet bet on this company.
Proton shud rebadge kereta Byd
Pls bring seagull to Malaysia….. it will sell and perfect for city use.
Must bring in cheaper EV. Too expensive must think twice. First time use is like that lor. Sick w combustion engine already. If reliability like kapchai then ok.
China numba one
Cannot do comparison with Msia as the total car sales in China is around 27mil last year. 1.7mil is like KIA kind of sales in Msia percentage wise. Still long way.