$BYD COMPANY (01211.HK)$ BYD is adding significant EV capaci...

$BYD COMPANY(01211.HK)$ BYD is adding significant EV capacity. The company recently said in an investor conference call that its 2022 NEV sales target is roughly 1.1-1.2 million units, with 600,000 EVs and 500,000-600,000 PHEVs. That's up from 600,000 in 2021. But the forecast seems conservative, given that flat sales from November's pace equal an annual run rate of 1.08 million NEV vehicles. BYD says it'll open three new factories, boosting capacity by another 500,000 vehicles by Q2 2022. All that suggests that BYD's electric and hybrid production could hit 1.5 million or more.