BYD sales eclipse Tesla's for first time as EV giants face off
The Straits Times|November 01, 2024
HONG KONG - BYD notched up another win over Tesla, reporting quarterly revenue beating that of Mr. Elon Musk's carmaker for the first time since the pair went head-to-head in global electric vehicle (EV) sales.

Revenue for China's best-selling carmaker soared 24 per cent to 201.1 billion yuan (S$37.3 billion) for the three months ended September, falling short of estimates but exceeding Tesla's US$25.2 billion (S$33.3 billion) in sales for the same period.

Net income increased 11.5 per cent to a record 11.6 billion yuan, beating estimates, as BYD sold an unprecedented 1.12 million electric and plug-in hybrid vehicles and generated a gross margin of 21.9 per cent.

Its profit, however, is still overshadowed by the US$2.2 billion Tesla earned.

In the first nine months, BYD had net income of 25.2 billion yuan on revenue of 502.3 billion yuan.

هذه القصة مأخوذة من طبعة November 01, 2024 من The Straits Times.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة November 01, 2024 من The Straits Times.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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