BYD

China’s BYD Overtakes Tesla Revenue For The First Time

China’s BYD Overtakes Tesla Revenue For The First Time

The Chinese electric vehicle giant BYD has seen its quarterly revenues soar, beating Tesla's for the first time. It posted more than 200bn yuan ($28.2bn, £21.8bn) in revenues between July and September. This is a 24% jump from the same period last year, and more than Elon Musk's company whose quarterly revenue was $25.2bn. However, Tesla still sold more electric vehicle (EVs) than BYD in the third quarter. It comes as EV sales in China have been getting a boost from government subsidies to encourage consumers to trade their petrol-powered cars for EVs or hybrids. BYD also notched a monthly…
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