BEIJING, Nov 3 - China's electric vehicle manufacturer BYD has significantly increased its production, ramping up by nearly 200,000 units from August to October. The company has also expanded its workforce, hiring close to 200,000 new employees in car manufacturing and components, according to Executive Vice President He Zhiqi.
In the third quarter, BYD reported an 11.5% rise in net profit, driven by strong sales momentum. The revenue for the July-September period surged 24% year-on-year, reaching 201.1 billion yuan (approximately $28.24 billion). This marks the first quarter where BYD's revenue surpassed that of Tesla since the company ceased production of gasoline engine vehicles in 2022.