Tesla's Chinese Rival BYD Outshines Elon Musk's EV Giant In Quarterly Revenue For First Time Since 2022 Amid Hybrid Sales Surge

Quick Summary:

Chinese EV giant BYD Co Ltd (OTC:BYDDY) (OTC:BYDDF) on Wednesday reported a net profit of $11.6 billion yuan ($1.63 billion) for the third quarter, marking a growth of 11.5% from the corresponding period last year.

BYD’s American rival Tesla Inc (NASDAQ:TSLA) reported a total revenue of only $25.18 billion in the same quarter, making this the first time since 2022 that BYD has trumped Elon Musk’s EV ...

What Happened: Operating revenue of BYD rose 24% in the period to 201.12 billion yuan ($28.25 billion), the company said in a filing.

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Author / Journalist: Anan Ashraf

Category: Technology

Markets: United States

Topics: US88160R1014 Tech BYDDF BYDDY EVs News Electric vehicles TSLA General Benzinga Mobility

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 10:17:46 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 332 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 23347693

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