Warren Buffett-Backed Chinese Car Maker BYD Zooms Past Rivals

HONG KONG—As sales of most major auto makers in China have sunk this year, hit by rigid Covid-19 lockdowns and supply-chain disruptions, a Warren Buffett-backed Chinese car maker has zoomed past rivals, rapidly nearing the top position.

BYD which stands for “Build Your Dreams,” is a source of national pride to many in China and has enjoyed success overseas. In the U.S., it is better known as an electric-bus maker, where buses produced by its Lancaster plant in California are on roads anywhere from Los Angeles to Denver.