Home » Energy » China EV Maker BYD Burning Billions in Cash
BYD has another quarter of billions in quarterly negative free cash flow. BYD is the major competitor to Tesla for the number of electric vehicles they make. In the fourth quarter of 2023, BYD made more electric cars than Tesla but since then Tesla has retaken the lead in electric car production.
BYD is selling about 3 million hybrid and all electric cars and over 90% of those sales in China.
BYD’s second quarter did have about 10 billion RMB in net income. This is about US$1.3 billion in net income.
A company with positive net income but negative cash flow is not necessarily in trouble, but it does face challenges. This situation often occurs in growing businesses or those experiencing significant changes in working capital. However, if this pattern persists, it could indicate underlying issues with the company’s business model or financial management.
🔥BREAKING: BYD lost $2.4 billion in 2Q 2024, bringing total negative free cash flow (cash burn) for the first six month of 2024 to $4.6 billion. pic.twitter.com/lewkyIhZFR
— AJ (@alojoh) August 28, 2024
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
Information contained on this page is provided by an independent third-party content provider. This website makes no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact editor @americanfork.business
