Buffett-Backed BYD Releases Strong 2020 Financial Results as New Energy Vehicle Sales Hits Record High in China
Chinese carmaker BYD unveiled its 2020 financial results on Monday with net profit jumping 162% year-on-year to 4.23 billion yuan ($643.72 million) thanks to a recovery of demand in the world’s largest automotive market.
The company – which is backed by billionaire Warren Buffett – reported 156.6 billion yuan ($23.83 bil…
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