Chinese automaker BYD Co Ltd’s (OTC:BYDDF) all-electric vehicle sales soared in April and the company sold more than twice as many electric vehicles as its closest rival Nio Inc (NYSE:NIO) during the month amid supply chain constraints that have roiled global auto production.
What Happened: BYD, backed by Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) Chairman Warren Buffett, sold 16,114 battery-powered electric vehicles in April, a 61.7% jump year-on-year, compared with Nio’s delivery of 7,102 electric vehicles in the month.
On a year-to-date basis, BYD’s battery-powered electric vehicle sales nearly doubled YoY to 54,713 vehicles, a jump of about 95%. In comparison, Nio has delivered 27,162 vehicles this year, as of April-end.
In the new energy vehicle category, which includes hybrid as well as pure-electric cars, BYD scored 25,662 sales in April, a jump of nearly 128.5%.
The BYD sales also came ahead of other Chinese rivals Li Auto Inc (NASDAQ:LI) and XPeng Inc (NYSE:XPEV).
Li reported deliveries of 5,539 in April, a climb of 111.3% from last year. Xpeng said its April deliveries totaled 5,147, which represented 285% year-over-year growth.
Price Action: Shares of BYD closed 3.34% lower at $18.80 on Friday. Those of Nio closed 0.71% higher at $36.94, Li Auto closed 1.50% higher at $18.26 and Xpeng closed 1.18% higher at $26.69.
Photo by Remko Tanis on Flickr