SHENZHEN-BASED carmaker BYD Co., backed by Warren Buffett’s Berkshire Hathaway, yesterday predicted an up to 91 percent profit rise in the first nine months of the year, as government policies drive green car sales.

    The company forecast an 83 percent to 91 percent rise in net profit for the first nine months, between 3.6 billion yuan (US$539.8 million) and 3.7 billion yuan.

    For the first half of 2016, BYD reported 2.3 billion yuan in profit, a 384 percent increase year on year, on the low end of the company’s predicted increase of 382 percent to 425 percent.

    BYD, which focuses on making green energy cars and batteries for personal electronics, had reported successive quarters of triple-digit growth since third quarter 2015 after years of favorable government policies finally sparked a boom in sales of full electric cars and plug-in hybrids.

    BYD’s board recommended an interim cash dividend of 0.367 yuan per share, according to the filing. (SD-Agencies)