Electric Vehicle Manufacturer BYD Cuts Out the Middleman, Starts Its Own Shipping Fleet. And the Results Are Obvious.

Earlier this decade, Chinese electric vehicle (EV) maker BYD (OTC: BYDDY)(OTC: BYDD.F) was facing a problem. It wanted to become a major exporter of its wares, but at the time, the shipping industry was in disarray largely because of the pandemic. It suddenly became difficult for manufacturers of many types of goods to ship their products, and the auto industry was not immune to this. So in 2022, BYD decided to create its own fleet of huge roll-on, roll-off cargo ships to transport its vehicles overseas. Since then, the company's profile has grown in many markets globally, to the point where it could become the top EV maker. Sometimes it really pays to bring an important business operation in-house. According to a report published in May by Reuters, BYD set an ambitious target to sell half of its vehicles outside the Chinese market by 2030. Citing four unnamed "people familiar with the matter," the news agency said BYD aimed to achieve this mainly by cranking up exports to Europe and Latin America. The always daunting North American market, it seems, isn't in sight just now. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool