The Shenzhen-based, Chinese automaker BYD Co’s (OTC:BYDDY) (OTC:BYDDF) over-the-counter stock has fetched far more handsome 1-year returns than homegrown rival Nio Inc (NYSE:NIO) and Elon Musk-led Tesla Inc (NASDAQ:TSLA).
The Chinese billionaire Wang Chuanfu-led BYD sells far more battery-powered electric vehicles than Nio’s monthly deliveries and is at times in a neck-to-neck contest with global electric vehicle leader Tesla.
BYD, which is backed by Warren Buffett-led Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B), sold a total of 61,409 new energy vehicles in August. Of these 30,382 units were battery-powered electric vehicles, a jump of nearly 223% year-over-year.
See Also: As Nio, Xpeng Struggled, Warren Buffett-Backed BYD Saw EV Sales Jump 21.5% Month-Over-Month In August
In comparison, Nio delivered 5,880 electric vehicles in August in China. Tesla sold 44,264 China-made vehicles in August, of which 31,379 were shipped to other markets, as per a Reuters report citing data from China Passenger Car Association (CPCA).
BYD’s first-half net profit fell by 29% to about $180 million for the period ended June 30, amid rising material costs, the company reported last month.
Return Over 1-Year: BYDDY shares are up 18% so far this year as of Friday’s close. The stock is up from $22.25 a share in September last year to $66.23, a return of 197.7%.
Nio shares are down 29% so far this year. The stock is up from $18.73 a share in September last year to $37.98, a return of 102.8%.
Tesla shares are up 0.89% so far this year. The stock is up from $419.62 a share last September to $736.3, a return of 75.5%.
Ford Motor Company (NYSE:F) stock closed at $12.68 on Friday, up about 50% year-to-date and 79.35% over 1 year.
Photo: Courtesy of BYD