Seoul: The Chinese corporate giant BYD said Monday that it sold 3 million battery-powered cars in 2023, its most ever, capping a turbulent year for China’s electric vehicle industry.
Even as sales surged, heavy competition and a sustained price war took a financial toll on many automakers.
But BYD last year sold 1.6 million fully electric vehicles and another 1.4 million hybrids, which are powered by both batteries and gasoline. Together that is a 62% increase over 2022. BYD is also making money, tripling its profit to $1.5 billion in the first half of last year.
