The carmaker has overtaken Volkswagen to become the best-selling car brand in China
BYD: China’s foot on EV pedal
BYD’s net income for the first quarter was up more than 500% year on year, and its annual net profit for 2022 was up 400% as it cemented its dominance of the Chinese electric vehicle and plug-in hybrid markets. For the first time it has overtaken Volkswagen to become the best-selling car brand in China, a truly seismic shift for the auto industry.
BYD has created a vertically integrated supply chain covering everything from mines to chips, which is likely to be an important strategic advantage as the supply of critical raw materials such as lithium and cobalt, which are essential for battery manufacture, comes under increasing pressure. As the collapse of Silicon Valley Bank demonstrated, the process has speeded up a bit since then, and if confidence disappears you can bring down a bank within days with hardly any queuing required at all.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JAMIE CARR: China’s foot is on the EV pedalThe carmaker has overtaken Volkswagen to become the best-selling car brand in China
Read more »
China-US tensions: What will this cost Africa?The war in Ukraine & the rise in tension between Washington & Beijing have raised fears of another Cold War, marked by the division of the world. If the world were to split into two isolated trading blocs, sub-Saharan Africa would be most affected. 👉
Read more »
Covid no longer a global health emergency - WHO | The CitizenThe UN health agency first declared the so-called public health emergency of international concern (PHEIC) over the crisis on January 30, 2020. Covid Read more here 👇
Read more »
WILLIAM GUMEDE: India set to carry the torch for Brics blocCountry’s economy is growing faster than China’s, and its short-term goal is to be a $5-trillion economy
Read more »
STATE OF THE NATION | SA’s foreign policy has become entitled, childish... while pandering to Russia | News24South Africa has completely fallen under the spell of Russia, China, and their satellites. Once, we were a reliable international partner, respectful of the international rules-based order, but that has now all changed, argues Pieter du Toit.
Read more »
IAN MACLEOD: Low-hanging fruit and ‘vleis’ for South African agricultureSouth Africa’s export farmers could take advantage of new demand from China on the back of increased household savings. But they’ll need to be quick off the mark
Read more »