Warren Buffett-backed BYD outperforms rivals in China’s electric car industry

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The Chinese company’s Han electric car comes in two versions, a pure electric and plug-in hybrid. Han is selling better than all other start-up competitors like Li Auto and Xpeng. Its sales performance is the same as NIO, another Chinese electri

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c car maker, which is planning to launch its first sedan on Saturday.

According to CNBC, NIO doubled its sales and delivered more than 43,729 units. Its sales increased over 1,400$ in 12 months. However, the company couldn’t outperform BYD which is currently leading the Chinese electric car manufacturing in the country.

Meanwhile, Xpeng disclosed on Monday that its 2020 deliveries increased by 112% YoY to 27,014 units. The company’s best month was December when it delivered 5,700 units making a 326% on a Year to Year basis. On the other hand, Li Auto delivered 6,106 units in December and its total deliveries were 30,000 units since its launching in December 2019.

The growing interest from investors in electric vehicles highly contributed to the successful launch of many electric car manufactures in both China and  the United States. The interest doesn’t seem to be plummeting anytime soon.