BYD pivots to exports | Electronics Weekly

BYD’s Q1 sales in China fell 30% but exports increased by 56% to 321,165 vehicles.

The company’s share of the China EV market slipped to 26% in March, down seven percentage points from a year earlier, says the China Passenger Car Association.

Overseas sales accounted for 46% of BYD’s Q1 overall sales and exports are where the company sees its future in the light of a domestic backdrop of ferocious cost cutting and multiple Chinese EV company bankruptcies.

A cut-back in China government EV subsidies for this year preceded a 23.8% Q1 decline in EV sales,says the China Association of Automobile Manufacturers.

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