Automotive News

Gasgoo.com (Shanghai February 1) - BYD's automobile business has had a rough couple of years, with the latest reports showing that car sales brought the company less money than sales of mobile phone batteries. According to a report appearing in the Securities Daily earlier this week, business returns from BYD's automobile business in the first half of 2011 totaled 9.5 billion yuan ($1.47b), while its mobile phone battery sales brought in 11.9 billion yuan ($1.84b).

BYD has become notable as being one of the first rechargeable battery manufacturers to break the monopoly Japanese enterprises held on the market. Although BYD refuses to confirm the information, the company has been reported as being one of the 156 suppliers for Apple, manufacturer of the top-selling Apple iPhone and iPod.

Both BYD and BYD Electronic have fought the declining market, with their value rising 5.96 percent and 7.98 percent, respectively.