BYD's NEV Dominance

STATE OF CHINA'S AUTO INDUSTRY NEV share of sales have remained at ~25% or higher for the past 8 months China Vehicle Monthly Sales - (Oct. 2021 Mar. 2023) (000' units) NEV % PHEV (%) BEV ICE 3,000 448 539 615 361 347 476 541 32.9% 457 522 624 31.8% 490 316 395 114 27.9% 28.5% 376 88 89 27.1% 26.6% 26.6% 2,000 67 347 120 169 24.7% 333 26.9% 135 172 189 163 25 109 144 287 24.2% 23.8% 24.5% 171 22.6% '20.2%' 87] 231 10 19.2% 149 2131 2 40 35 30 20 121 17.8% 17.2% 16.4% 1,000 87 0 1,950 2,073 2,224 2,095 1,317 1,730 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 15 10 5 0 863 1,505 1,906 1,828 1,717 1,902 1,792 1,600 1,743 1,241 1,451 1,798 Comments NEV share of sales increased by 5.5% in the YOY 1st quarter The price war (initiated by Tesla) has effectively weakened the sales of traditional ICE brands, to the overall benefit of the leading NEV players Source: CAAM, Automobility analysis Automobility Ltd 11

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