Warren Buffett-backed BYD relishes success of newly launched Dolphin car model as sales top 10,000 units in December
- Shenzhen-based BYD sold 10,016 Dolphin cars in December, within five months of its launch in August
- BYD, controlled by billionaire Wang Chuanfu, sold 93,945 pure electric and plug-in hybrid vehicles in December, an increase of 225.7 per cent from a year ago
Monthly delivery of 10,000 vehicles is seen as a major threshold for defining a powerful player in the mainland’s car industry.
“BYD is not a direct rival to Tesla in terms of products and targeted customers,” said Chen Jinzhu, chief executive of Shanghai Mingliang Auto Service. “But the rising volume of sales and deliveries could help hone its image as a leading EV builder, hence woo more customers.”
The hefty sales increase of Dolphin cars showed that BYD has grasped both manufacturing might and design capabilities that appeal to consumers in the world’s largest EV market, Chen added.
BYD launched the Dolphin hatchback at the Chengdu Auto Show in August, which starts from 93,800 yuan (US$14,760) after subsidy.
The basic edition is equipped with a battery capacity of 30.7 kilowatt-hour (kWh) giving it a driving range of 301km.
The premium version, fitted with a 44.9 kWh battery pack, has a range of 401km and is priced at 121,800 yuan after subsidy.
Tesla, which moved its headquarters to Austin, Texas, from Palo Alto, California, is also the runaway leader in China’s premium EV segment.
BYD, controlled by its billionaire founder Wang Chuanfu, sold a combined 93,945 pure electric and plug-in hybrid vehicles in December, a year-on-year jump of 225.7 per cent. From October to December, BYD sold a record 266,204 units, 14 per cent short of Tesla’s global sales in the same period.
BYD, established in 1995 as a battery manufacturer, began building cars in 2003 and has evolved into a major carmaker in China.
BYD is believed to have the potential to gain a solid foothold in the global market, buoyed by its strength in car batteries.
The company’s blade lithium iron phosphate battery packs have been increasingly well received by other car assemblers over the past year. The battery cells are arranged in such a way that it increases their energy density while enhancing their resistance to overheating.
The company said that it would do its utmost to minimise the negative impact from the lockdown.
BYD built the first phase of its assembly line in Xian seven years ago, with an initial annual capacity of 300,000 units. In 2018, it invested a further 2 billion yuan to expand these facilities, boosting the annual capacity to 500,000 units.