Chinese EV manufacturer BYD surpasses Tesla in Q3 2023 revenue, reaching 201.1 billion yuan.

Chinese electric vehicle manufacturer BYD reported significant financial growth, surpassing Tesla in quarterly revenue for the first time. In Q3 2023, BYD's revenue reached 201.1 billion yuan ($28.2 billion), a 24% increase, while net profit rose to 11.6 billion yuan ($1.6 billion), up 11.5%. This growth is fueled by strong domestic demand and international expansion, despite rising trade tensions with the European Union due to tariffs on Chinese EVs.

October 30, 2024
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