Warren Buffett-backed BYD is growing EV sales at such a furious pace that it also is closing on FAW-Volkswagen to become the largest automaker of any type in the country.

BYD, the world's biggest manufacturer of electric vehicles and plug-in hybrids, has been working on a plan to supply batteries to other automakers including Toyota

Hong Kong-listed BYD shares opened with a 10% dip after authorities launched an investigation into pollution claims and alleged health issues near its Changsha city factory

BYD accounted for about 17% of the 3 million new energy vehicles (NEV) sold in China in 2021, China Association of Automobile Manufacturers data show

China's leading new-energy vehicle manufacturer says BYD's auto business will focus on pure electric vehicles and plug-in hybrid electric vehicles

The price increases will take effect from Wednesday, BYD said, adding that customers who had paid deposits on vehicles prior to then would not be affected

Qin made the remarks during a visit to BYD's plant in Lancaster, southern California, where he was joined by more than 300 US workers

Munger said he wished cryptocurrency had been banned from the start. "I'm proud of the fact that I avoided it," he said

BYD Semiconductor's IPO comes as global supply chains face a chip shortage, which originated in the automotive sector

Construction of supporting infrastructure to charge and replace batteries, store energy, and refuel hydrogen cells will also be strengthened

The contracts, worth $121 million, went to China's BYD and Chile's Servicios y Operaciones Mineras del Norte, the minerals ministry said

The e6 model costs 29.6 lakh rupees (about $40,000) and is fitted with a 71.7 kwh blade battery. It will be available in the business-to-business segment