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

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BYD’s Dolphin electric vehicle is displayed at a showroom in Changzhou, in China’s Jiangsu province. Photo: VCG via Getty Images

Published: 8:15pm, 4 Jan 2022

BYD is enjoying the success of its latest electric vehicle (EV) model in China, as the Warren Buffett-backed company hit the 10,000 delivery milestone for the first time last month.

The Shenzhen-based company, in which Buffett’s Berkshire Hathaway owns a 7.9 per cent stake, sold 10,016 Dolphin cars in December, within five months of its launch in August, according to a statement filed to the Hong Kong stock exchange on Tuesday.

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.”

Berkshire Hathaway owns a 7.9 per cent stake in Shenzhen-based BYD. Photo: Costfoto/Barcroft Media via Getty Images

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.