Chinese EV leader BYD posts record RM123.68b revenue, exceeds Tesla’s quarterly earnings for first time

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BEIJING, Oct 31 — Chinese electric vehicle giant BYD reported surging sales yesterday, surpassing global rival Tesla in...

Hopes of achieving those ambitions were bolstered in July when such vehicles accounted for more than half of all domestic sales for the first time, according to the China Association of Automobile Manufacturers.

But the European Union has said that the extensive state support enjoyed by Chinese firms has led to unfair competition, with an investigation by the bloc finding that Beijing’s subsidies were undercutting local competitors.

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Category: EconomyBusiness

Markets: MalaysiaCanadaChinaHong KongHungaryTurkeyUnited States

Topics: Revenue Tesla BYD China ev market

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 20:22:10 (5 days ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 534 words

Reading Time: 3 minutes read

Sentences: 26 lines

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Copyright Owner: © Malay Mail

News ID: 23426971

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