BYD has already surpassed Tesla in revenue
BYD, the Chinese electric car company, revealed a surge in sales on Wednesday, surpassing global competitor Tesla for the first time in terms of quarterly turnover.
The Shenzhen-based business reported third-quarter sales of $28.24 billion, a 24% rise over the same time last year, exceeding Tesla’s $25.2 billion announcement last week.
BYD’s net profit for the period was 11.6 billion yuan ($1.6 billion), up 11.5% from the third quarter of the previous year.
Tesla startled investors by declaring an increase in earnings in the third quarter, citing an all-time low manufacturing cost per car, a move aimed at competing with rivals like as BYD.
