MSMEDA signs EGP 300m financing agreement with Reefy    GAFI prioritises Start-Up Support Unit, Investor Dispute Settlement Centre: Heiba    Public enterprises record $1bn in exports, 20% revenue growth in FY 2024/25: Minister    GENNVAX launches largest regional vaccine manufacturing facility with $150m investment    Health Minister Discusses radiology upgrade with Curagita, ACH    EGX closes mostly in red on 16 Dec.    Egypt launches Gennvax pharmaceutical factory in SCZONE    Sanofi introduces new multiple myeloma treatment to Egyptian market    Central Bank of Egypt, Medical Emergencies, Genetic and Rare Diseases Fund renew deal for 3 years    Oil prices fall on Tuesday    Egypt, Saudi FMs discuss Gaza, Sudan and preparations for Supreme Coordination Council    As Kyiv weighs neutrality, Kremlin eyes a 'cornerstone' for peace while Europe warns of trap    'Friends become enemies': Trump's new strategy fractures European unity    Egypt's SPNEX Satellite successfully enters orbit    Egypt unveils restored colossal statues of King Amenhotep III at Luxor mortuary temple    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    Egypt's PM reviews major healthcare expansion plan with Nile Medical City    UNESCO adds Egyptian Koshari to intangible cultural heritage list    UNESCO adds Egypt's national dish Koshary to intangible cultural heritage list    Egypt calls for inclusive Nile Basin dialogue, warns against 'hostile rhetoric'    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



China's EV BYD targets 3.6m units in sales during '24
Nada Ali Published in Amwal Al Ghad on 27 - 03 - 2024

Chinese electric vehicle maker BYD has set a sales target of 3.6 million units for 2024, a 20 per cent increase from last year's record-breaking sales, Reuters reported on Wednesday, citing sources familiar with the matter.
The company aims to sell 500,000 vehicles overseas this year, more than double last year's total, and one million units in 2025, Chairman Wang Chuanfu announced at a BYD investor meeting on Wednesday.
BYD did not immediately respond to a request for comment. Wang's comments followed the company's slowest quarterly profit growth in two years, attributed to a slowdown in EV sales in the world's largest auto market.
After becoming the world's largest EV seller in late 2021, surpassing Tesla, BYD has expanded aggressively into overseas markets like Australia, causing concern among competitors.
The company has engaged in a price war with Tesla in China and plans to launch a new plug-in hybrid system in May.
Wang stated that the new energy vehicle industry is entering a competitive phase focused on scale, cost, and technology from 2024 to 2026.
He predicted a decline in market share for foreign brands in China and emphasised BYD's commitment to maintaining profitability amid the price war.
BYD has introduced new vehicle models at lower prices since February and plans to launch models priced under 200,000 yuan in the second half of the year with advanced driving-assistance systems.

Clic here to read the story from its source.