BYD reports first profit increase in five quarters on global exports
BYD Co. reported its first profit increase in five quarters, with Q2 net income jumping 30% to 8.2 billion yuan ($1.2 billion), driven by surging global exports and demand for higher-priced models. Overseas sales now make up 44% of total deliveries as BYD escapes China's domestic EV price war.
Detected & updated continuously · Source: Nebula
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@qz
BYD's escape route from China's brutal EV price war: go global: With China's domestic car market locked in a relentless discount war, BYD is finding its profit lifeline abroad — overseas sales now make up 44% of total deliveries and deliver… https://t.co/d0MwX4FvUy #BYD #EVs https://t.co/nOoLzIZ57C
@itradeph
BYD Co. rebounded from a domestic slump with its first profit increase in five quarters, logging a 30% jump in Q2 net income to 8.2Byuan ($1.2 billion). The EV leader overcame China's market downturn via surging global exports and a strong appetite for its higher-priced models. https://t.co/QGxWr0936g