Categories: Business

After overtaking Tesla, Chinese manufacturer BYD has surprised with its rising profits

BYD exhibits its models at car shows all over the world.
Chalini Thirasupa / REUTERS

The Chinese manufacturer’s profits soared 80% as Beijing condemned Washington’s “discriminatory” measures.

Bullets can be fired between China, the United States and the European Union over subsidies Inappropriate » Paid by everyone to support their automobile industry, no matter what. Chinese manufacturer BYD continues to roll out its road plans and blow up counters.

The Chinese giant, which overtook Tesla as the world’s number one in electric cars in the last quarter of 2023, reported a net profit of 30.04 billion yuan (3.83 billion euros) in 2023, compared with 16.6 billion yuan a year earlier. That’s a growth of 80.7%!

Last year, turnover of Tesla’s new rival rose 42% to 602.3 billion yuan (76.8 billion euros). It has sold over 3 million New energy vehicles » (NEV), 100% electric cars and plug-in hybrids, of which 242,765 were exported. In the 70’s the country », the group boasts. A start.

Electric cars: Chinese manufacturer BYD will launch its “luxury brand” Yangwang for Europe

His country faced war…

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