Source: Caijing Network2022-04-18 22:22
On the evening of April 18, BYD released the 2022 Q1 quarterly performance forecast. The company expects to make a profit of 650 million yuan to 950 million yuan in the first quarter of 2022, an increase of 174% to 300% over the same period last year.
BYD said that in the first quarter of 2022, the new energy vehicle industry generally continued its rapid growth momentum.
The sales volume of the Group’s new energy vehicles hit a record high, and the market share continued to rise, achieving rapid year-on-year growth, which led to a substantial improvement in profitability and, to a certain extent, offset the profit pressure brought about by rising upstream raw material prices.
In terms of mobile phone components and assembly business, due to the weak demand in the industry, the utilization rate of production capacity was low, and the profit of this business segment was under pressure.
On April 3, BYD Auto officially announced that the company will stop the production of fuel vehicles from March 2022. As a result, BYD has become the world‘s first established car company to completely stop the production of fuel vehicles.
In the future, in the automotive sector, BYD will focus on pure electric and plug-in hybrid vehicles.
At the same time, the company will continue to produce and supply fuel vehicle parts, and continue to provide comprehensive services and after-sales support for existing fuel vehicle customers.
In 2021, with technologies such as blade batteries, DM-i super hybrids, and e-platform 3.0, BYD insists on walking on “two legs” of pure electric and plug-in hybrids, ushering in the explosion of technology, products and markets. Annual sales of 740,000 vehicles, including new energy vehicles exceeded 600,000 units, a year-on-year increase of 220%, ranking first in China for 9 consecutive years.