For the first time, BYD Co. has surpassed Volkswagen AG as the most popular automaker in China, continuing its rapid ascent.
According to automobile industry figures published by Bloomberg, the Warren Buffett-backed electric vehicle manufacturer outsold its German rival in the first quarter by selling more than 440,000 cars in China. Last month, BYD Chairman Wang Chuanfu declared his intention to surpass Volkswagen by the end of 2023.
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