Alternative Energy Vehicles Account HALF of BYD’s Profits for the Very First Time in 2015

Recently, Chinese domestic carmaker BYD has announced that its net profits in 2015 jumped 552.63% to totally 2.829 billion rmb. It’s observed that alternative energy vehicles are the main driver for BYD’s hugely increased profits. Now the alternative energy vehicles account HALF of this carmaker’s profits while the percentage of that in 2014 is still 27.05%.

In 2015, the sales of BYD’s alternative energy vehicles have totaled 69,222 units, including 61,722 passenger vehicles, mostly plug-in hybrids including Qin and Tang. Meantime, besides a very limited number of models including F3 and S7, the sales of BYD’s conventional fuel vehicles plumped. Wang Liusheng, an industrial expert, said BYD’s plumping sales of conventional fuel vehicles is no surprise at all, “BYD won’t ramp up its investment in conventional vehicles from now on, but to put focus on alternative energy vehicles. The company will focus on the development of plug-in hybrid passenger vehicles recently.”

It’s observed that among BYD’s total sales of alternative energy vehicles, 81% of them are plug-in hybrid passenger vehicles.

In 2016, BYD plans to introduce 10 alternative energy models and double its sales. Wang believed, “the profits of alternative energy vehicles in BYD will totally exceed that of conventional fuel vehicles with sales revenue around 50 billion to 55 billion rmb.”