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Benzinga
Benzinga
Business
Rachit Vats

Warren Buffett-Backed Chinese Automaker Sold More Than Double EVs Than Nio, Xpeng, Li Combined In February

NIO Xpeng BYD NYSE Warren Buffett China BYD Co BYDDF Nio Inc Xpeng Inc

China’s BYD Co (OTC:BYDDF) sold more than double electric vehicles than the combined delivery volumes of homegrown startups such as Nio Inc (NYSE:NIO), Xpeng Inc (NYSE:XPEV) and Li Auto Inc (NASDAQ:LI) in February amid chip shortages and production halts.

What Happened: The Shenzhen-based BYD sold 43,173 battery-powered electric vehicles in February, a jump of 451% year-on-year and a sales decline of about 7% over January.

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