Having raced past rivals to become the world’s top EV seller, BYD’s challenge is to stay ahead
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Tay Peck Gek
INVESTORS in BYD might be feeling like the Chinese automobile maker is at a crossroads. And perhaps rightly so.
BYD – short for Build Your Dreams – last week posted guidance for its 2023 net profit amid a flurry of industry news about slowing demand for electric vehicles (EVs).
The company estimated that its full-year earnings would come in at between 29 billion yuan (S$5.4 billion) and 31 billion yuan, which works out to an improvement of 74.4 per cent and 86.5 per cent year on year.
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