Tesla is not the only all-electric automaker currently experiencing major growth and value. China’s BYD, backed by American billionaire Warren Buffett, reported earlier this week a very impressive 162 percent net profit growth in 2020 despite the turmoil caused by the pandemic. That net profit totaled $643.75 million, or 4.23 billion yuan. That’s an increase from 1.61 billion yuan from 2019. Like many other major global automakers, BYD began manufacturing face masks not long after the outbreak began.
Last May, it claimed to be making 50 million masks daily. BYD, which has partnerships with Toyota and Daimler, sold a total of 426,972 vehicles in 2020, which was actually a 7.5 percent drop from the year prior.