BYD’s profits declined 33 per cent in the third quarter, highlighting the urgency of the Chinese electric vehicle maker’s overseas push following Beijing’s campaign against aggressive competition in the domestic sector.
BYD has become the world’s largest and fastest-growing producer of EVs and the chief global rival to Elon Musk’s Tesla. But the third-quarter results show a continued slowdown for the group after a period of breakneck growth.
The Shenzhen-based group on Thursday reported net income of Rmb7.8bn ($1.1bn), compared with Rmb11.6bn from the same period last year. The result fell short of analysts’ expectation of Rmb9.6bn, but was an improvement from Rmb6.36bn in the second quarter.
您已阅读19%（700字），剩余81%（2940字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。