Local Chinese reports, citing BYD Company's (OTC:BYDDY) investor meeting minutes, show that the company's cumulative undelivered orders have reached the 400,000 mark and are still climbing. Based on these numbers, BYD expects sales to reach the 1.5 million vehicle threshold in 2022. However, if the supply chain improves, BYD expects to reach its sales target of 2 million.
BYD said that the current growth trend of raw material prices is slowing down. If the price of lithium carbonate remains at the current price, it will not impact the sales of new energy vehicles this year.
For 2021, BYD's NEV sales were 603,783 units, up 218.3% from 2020, including 593,745 new energy passenger vehicles. Late last year, BYD told investors it expected to sell up to 1.2 million NEVs in 2022.
By Michael Elkins