The strength of China’s BYD, Tesla’s strongest rival in the EV era. Profits and sales volume have doubled. Increasing offensive in Japan as well.

Good morning. Today’s article is about electric vehicles and electric vehicle sub-batteries.

China’s BYD, with rapidly expanding EV and PHV sales, has emerged as a rival to Tesla (Photo by Fumishige Ogata)

According to the September 10 Toyo Keizai ONLINE, the Chinese automaker giant BYD is becoming the eye of the typhoon amid the accelerating shift to electric vehicles (EVs) around the world. The company’s momentum can be seen in its performance in the second quarter of 2023 (April-June).

Sales for the second quarter were 139.95 billion yuan (approximately 2.8 trillion yen), a 67% increase over the same period last year. This exceeded the 47.2% growth rate of Tesla’s sales ($24.92 billion = approx. 3.61 trillion yen) during the same period, and is approaching Tesla’s sales in absolute terms.

Momentum Surpasses Tesla
BYD’s operating profit was 8.51 billion yuan (approximately 170 billion yen) and net income was 6.82 billion yuan (approximately 136.5 billion yen), a 2.4-fold increase from the same period last year. Although the absolute value is not as high as Tesla’s (operating profit down 2.6% YoY to about 350 billion yen, net profit up 19.7% YoY to 390 billion yen, and growth rate in dollars), it is still competitive in terms of momentum.

BYD was founded in 1995 in Shenzhen, China, and has developed its business in batteries for cell phones. 2003 saw the company enter the automobile business by acquiring a Chinese state-owned automaker. In March of last year, the company discontinued production of gasoline-powered vehicles and has since manufactured and sold only EVs and plug-in hybrid vehicles (PHVs) as passenger cars.

The automotive business, including in-vehicle batteries, is driving BYD’s earnings growth, and in the first half of 2023 (January-June), companywide sales grew 72.7% y-o-y, with the automotive business up 91.1% and the ancestral mobile business up 24.4%. The automotive business now accounts for 80% of BYD’s total sales.

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MAXXTA PowerBaseX’Pro HESS 4610 Specifications

AC/DC input – 1,800w 120V, 3,600w, 240V
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– 1*6-20:16A 3800W Max (240V AC).
– 1*TT-30. 30A 3600W Max (120V AC).
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Capacity 4,608Wh
Cell Lithium-ion rechargeable battery (LiFePO4)
Connection type WiFi/Bluetooth
Charging temperature 0°C~45°C
Discharge temperature 0°C~45°C
Multi-safety protection Overtemperature, overcurrent, overvoltage
Dimensions 730*320*447mm
Weight 55KG

MAXXTA Brand Series

MAXXTAPowerBaseX Portable Power Station (PPS)
2. MAXXTAPowerBaseX’Tra portable power station (PPS)
MAXXTAPowerBaseX’Pro Home Energy Storage System (HESS)
MAXXTAPowerBaseX’Plus battery cells
MAXXTA PowerBaseX Smart Home Panel with EV Outlet
MAXXTAPowerBaseX Mobile EV Charger
MAXXTAPowerBaseX’Pro cable
MAXXTAPowerBaseX Battery Cable
MAXXTAPowerBaseXMobileEVChargingAdapter

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For further information contact.
microdia@kofukutrading.com

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