AUTOMOTIVE NEWS CHINA

CEO He Xiaopeng says the EV startup's top priority is scale, adding it may not be possible for a “small but beautiful” automaker with revenue of less than 100 billion yuan to survive in China in five years.

With sales of 1.86 million cars last year, BYD expects a net profit of $2.37 to $2.52 billion, more than more than five times the amount it booked a year earlier.

The Chinese new-vehicle market contracted sharply in the first 15 days of the month as a severe coronavirus outbreak upended auto production and deliveries. 

CATL, China’s largest battery supplier for electric vehicles, estimates 2022 net profit will range from 29.1 billion yuan ($4.3 billion) to 31.5 billion.