BYD Company Limited Set to Dominate Indonesia's Electric Vehicle Market with Record Sales and Tax Incentives

RudyAsh

 9 Jan 24

tl;dr

BYD Company Limited (OTCPK:BYDDF) announced that it will sell vehicles in Indonesia next week, following new regulations in Indonesia that provide tax incentives to automakers planning to build electric vehicle plants. The company posted record sales of 3.02M electric vehicles in 2023, marking 62% g...

BYD Company Limited (OTCPK:BYDDF) announced that it will sell vehicles in Indonesia next week, following new regulations in Indonesia that provide tax incentives to automakers planning to build electric vehicle plants. The company posted record sales of 3.02M electric vehicles in 2023, marking 62% growth from the prior year. Analysts Larry Cheung and Nick Cox issued positive reviews of BYD Company this month. The sales comprise 1.6M battery-electric vehicles and approximately 1.4M plug-in hybrid electric vehicles. The company's aggressive end-of-year discounting drove sales of 526,409 fully electric vehicles in Q4, with EV and hybrid sales totaling 340,178 in December, including 190,754 all-electric cars. BYD's overseas sales of 36,095 new energy passenger vehicles in December were more than triple the previous year's sales, demonstrating the company's strong international market presence.

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Stock Performance:

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