BYD aims to sell 500,000 electric vehicles overseas in 2024 and further double the number to 1 million units in 2025, chairman Wang Chuanfu told investors on Wednesday. The figures would mark a significant increase compared to the nearly 243,000 units it achieved last year. BYD’s overall sales are expected to jump 20% to 3.6 million units this year, according to a transcript quoted by media outlet Yicai, lower than the estimate of 4 million units made by some analysts. A day earlier, the Chinese EV giant posted net income of more than RMB 30 billion ($4.15 billion) in 2023, representing an annual increase of 80.7%, while the margin of its car business improved from 20.39% to 23.02%. Wang also mentioned the company’s plans to roll out its next-generation plug-in hybrid vehicle system as early as May, which will enable a driving range of 2,000 kilometers (1,243 miles) on a full tank plus full charge, as well as a fuel consumption rate of 2.9 liters of gasoline per 100 km. [Yicai, in Chinese]

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