For BYD, the profitability boost is starting to show. Despite price cuts in recent years, operating margins have risen to more than 5 per cent, from 3 per cent two years ago as hybrid sales grew. In south-east Asia where Toyota has had a decades-long stronghold, BYD’s wide range of offerings is already proving a successful strategy in winning over market share. Less than two years into entering Thailand, the region’s second-biggest auto market, BYD holds the position as the biggest EV maker and the third-largest automaker for the overall passenger car market, according to research company Counterpoint…Read More