Chinese electric manufacturer BYD Company Limited (OTC:BYDDF) reported strong deliveries for April, defying the supply chain, production and logistical challenges arising from the COVID-19 lockdowns in China.
What Happened: Shenzhen-based BYD delivered 57,403 battery electric vehicles in April, up nearly 270% from the 16,114 units delivered in the year-ago period. Sales improved 7% from March.
Including plug-in hybrid vehicles, BYD sold 105,475 passenger new energy vehicles, up from 25,034 vehicles delivered in April 2021. The automaker sold 104,338 units in March.
BYD produced 107,478 new energy vehicles in April, comprising 57,593 BEVs and 49,318 plug-in hybrids. The total new energy vehicle production improved on the March number of 106,118.
The company stopped producing oil-fueled vehicles in March as it pursues building low-carbon and environment-friendly vehicles in a bid to create a sustainable green future.
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Why It's Important: BYD's performance stands out, given its U.S.-listed EV peers announced steep month-over-month declines in April deliveries over the weekend.
Nio, Inc. (NYSE:NIO) deliveries plunged 49% from March to 5,074 units. XPeng, Inc. (NYSE:XPEV) and Li Auto, Inc. (NASDAQ:LI) reported 41.6% and 62% month-over-month declines, respectively, at 9,002 and 4,167 units.
Cumulative deliveries of the trio add up to 18,243 units.
BYD shares traded over-the-counter closed Monday's session down 0.07% to $20, according to Benzinga Pro data.
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Photo: Courtesy of BYD
