BYD Big Profits

BYD, China's largest EV manufacturer, saw its profits skyrocket by 446% to $2.4 billion in 2022, after selling a record 1.86 million electric and plug-in hybrids. The company, partly owned by Warren Buffet's Berkshire Hathaway, is now looking to compete globally with Tesla. Meanwhile, Tesla has been cutting prices for its vehicles in China, leading to other automakers reducing their prices and raising concerns about potential price wars in the market.