HeadlinesBriefing favicon HeadlinesBriefing.com

Geely's Lead Over BYD Widens as EV Sales Slump Hits China

Bloomberg Markets •
×

Chinese automaker Geely Automobile Holdings Ltd. sold more vehicles than BYD Co. for a second consecutive month, piling pressure on the latter to beef up its lineup and reignite waning demand for electric vehicles. In the first two months of this year, Geely delivered about 76,000 units more than BYD, which saw a 36% slump in the period, according to company filings.

The last time Geely, founded by billionaire Li Shufu had more shipments than BYD for at least two consecutive months was in 2022. Geely’s flat sales to start the year are comparatively strong as some of China’s most popular brands, including BYD and Xpeng Inc. report double-digit declines in monthly deliveries.