Analysis of BYD 2020 Annual Report: New Energy is the Growth Engine

In 2020, The COVID-19 outbreak dealt a heavy blow on the global economy, but the New Energy Vehicle industry has embraced a good time. As Tesla sales volumes booming, the market capital of Tesla has also skyrocketed in 2020. Other NEV vendors has a similar journey, such as BYD, NIO, xPeng, etc. However, we should not take BYD just as NEV vendor. BYD has played a significant role in industries related to electronics, automobiles, new energy and rail transit. From energy…
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