China’s leading electric vehicle (EV) manufacturer, BYD Co Ltd (OTC:BYDDF) (OTC:BYDDY), is reportedly setting up a reward scheme offering 2 billion yuan for its dealers upon reaching their sales targets for 2023. This announcement comes on the heels of BYD’s impressive performance in the last quarter, where it outsold Tesla Inc (NASDAQ:TSLA) in global electric car sales.
What Happened: For every vehicle sold that meets the 2023 sales targets, BYD’s Chinese dealers will receive a bonus of 666 yuan ($93.17). Figure 666 is viewed as auspicious in China due to its phonetic resemblance to words implying “cool” or “amazing,” as per ...