EV Maker BYD Has 300% Surge In August Sales

BYD ($BYDDY@China) sold 61,409 new energy vehicles in August, more than four times the amount sold one year ago. The sales were a nearly even split between battery electric vehicles and plug-in hybrids. This was a rise from the 50,492 cars sold in July. BYD shares also rose 5.5% in the morning trade in Hong Kong. Warren Buffett’s Berkshire Hathaway ($BRK.A@US) backs BYD, and it continues to be one of the biggest electric vehicle makers in China. Competitors Nio ($NIO@China), Li Auto ($LI@China), and XPeng ($XPEV$China) look to challenge BYD, but all delivered under 10,000 cars in August.