Is BYD Stock a Buy?
Chinese company BYD (OTC: BYDDY) (OTC: BYDD.F) is solidifying its position in the global electric vehicle (EV) market. BYD sold 593,745 electric vehicles, including 272,935 plug-in hybrids, in 2021. That makes it the fourth largest EV manufacturer in the world after Tesla (NASDAQ: TSLA), Volkswagen (OTC: VWAGY), and SAIC. Does that make BYD stock a buy? This may help you decide.
BYD was started in 1995, but it wasn't until 2003 that it began manufacturing automobiles. In 2020, the company derived 53% of its revenue from its automobile operations. BYD's top EV models include Han, Tang SUV, Yuan, Song Pro, and Quin Pro. In December, BYD sold 13,701 units of its Han sedan. Of these, 10,301 units were fully electric. The company sold 9,000 units of its Tang SUV, while its Yuan series sold 8,577 units in December. Overall, BYD sold 92,823 plug-in vehicles in December.
Image source: Getty Images.
Source Fool.com
