China’s leading EV maker BYD predicts more than RMB 420 billion ($62.2 billion) in revenue in 2022 and a net profit of RMB 16 billion to 17 billion, a 425% to 458% yearly increase. The EV maker attributes the robust performance to the “continued explosive” growth in the new energy vehicle industry and its top sales position.
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Strong sales have offset the price increase in source materials, BYD added in a Monday performance forecast statement. [BYD statement, in Chinese]