SINGAPORE—China’s homegrown new-energy vehicle makers are booming as demand surges, with sales now forecast to hit a record six million this year in the world’s largest auto market.
Warren Buffett-backed BYD which has emerged as a formidable rival to Tesla more than tripled its sales of passenger cars in July to more than 162,000 vehicles from a year earlier, the China Passenger Car Association said Tuesday. BYD’s own data shows about half of those were pure electric and the rest hybrids.
