Business | Jan 31

BYD forecasts huge profit ahead of flagship Atto launch in Japan

TOKYO, Jan 31 (stockhead.com.au) - Shenzhen-based automaker, Tesla hunter and global electric vehicle hopeful, China’s BYD Co, has forecast a bumper 2022 of pure profit.

Certainly eclipsing 2021 – likely by a factor of five – the company announced on Monday, a day before it begins a global expansion in earnest.

The world’s biggest maker and flogger of battery electric vehicles (BEVs) and assorted hybrids will today roll out its first passenger EV for sale in Japan one of the world’s largest auto markets.

The move comes as Japan’s government scrambles for a way to help the country meet its stated target of making all new car sales electric vehicles by 2035.

But like us in Oz, EVs in Japan account for about 1% of annual car sales. ...continue reading

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