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Warren Buffett-Backed BYD Outsells Nio, XPeng And Li Auto Combined In September

BYD Company Limited (Pink: BYDDF), which has the backing of billionaire investor Warren Buffett, emerged as the leader in Chinese new energy vehicles sales in September.

BYD Outdoes Chinese Peers: BYD reported new energy vehicle sales of 70,432 units in September, taking the top spot in the category, data from China Passenger Car Association showed. NEVs include both pure play EVs and hybrid vehicles.

BYD’s September tally comprises 36,000 of pure play EVs, and this number was higher than combined sales of domestic rivals Nio, Inc. (NYSE: NIO), XPeng, Inc. (NYSE: XPEV) and Li Auto, Inc. (NASDAQ: LI).

In September, both Nio and XPeng reported record deliveries. While Nio delivered 10,628 cars in the month, up about 126% year-over-year, rival XPeng’s deliveries just about doubled to 10,412 units. Li Auto’s sales, however, paled in comparison, as a chip shortage hurt its performance. The company delivered 7,094 vehicles in September.

Related Link: Warren Buffett-Backed BYD Inks Deal With Nuvve JV For 5,000 EVs To Electrify US Fleets

BYD Sales Fall Short Of Tesla: BYD, however, trailed U.S. EV giant Tesla, Inc. (NASDAQ: TSLA) in sales of pure play EVs.

Tesla’s China wholesale sales, comprising domestic sales and exports, came in at 56,006 in September, representing a 26.5% month-over-month increase and up about 394% from a year ago.

Tesla’s domestic sales in China came in at an impressive 52,153 in September, up sharply from the 12,855 units sold in August.

BYD shares were down 0.46% at $32.76 Tuesday afternoon. 

Related Link: 5 Key EV Headlines You May Have Missed This Week: Tesla’s Texas Show, Bulls Pile Into Nio, Plug ‘Powers’ Up, GM Goes All Out, Faraday Future Under Short Attack

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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