https://www.reuters.com/business/autos- ... 024-10-30/

Chinese EV maker BYD's net profit up 11.5%, revenue beats Tesla for first time
By Reuters
October 30, 20248:31 AM EDTUpdated 13 hours ago

Companies
Q3 net profit rises to 11.6 billion yuan
Revenue up 24% to 201.1 billion yuan

EV makers enjoy expanded old-for-new stimulus measures

BEIJING, Oct 30 (Reuters) - Chinese electric vehicle maker BYD (002594.SZ), opens new tab posted an 11.5% rise in third-quarter net profit on Wednesday as it maintained strong sales momentum helped by government trade-in incentives.
Net profit rose to 11.6 billion yuan ($1.63 billion) in the July-September quarter, the company said in a stock exchange filing. For the first nine months, net profit was up 18.1% to 25.2 billion yuan.
With third-quarter revenue up 24% on year to 201.1 billion yuan ($28.24 billion), BYD's quarterly revenue for the first time outpaced Tesla
(TSLA.O), opens new tab, whose revenue for the July-September quarter reached $25.2 billion.

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