BYD expects record increase in net income in the first half of the year

The world's largest manufacturer of electric cars, the Chinese company BYD, said it expects a record

increase in net profit following the results of the firsthalf of this year. The company expects net profit to be between 2.8 and 3.6 billion yuan, so BYD's net profit could grow by 140-207% in annual terms. The company managed to achieve such indicators against the backdrop of an unfavorable epidemiological situation, supply chain disruptions and a significant shortage of semiconductor components. In June, BYD sold 134,036 new vehicles, up 163% from last June. The total volume of production in the current year amounted to 646,399 vehicles. Of this number, 638,157 vehicles were new energy vehicles, i.e. all-electric or plug-in hybrid vehicles.