The EV maker is also set to boost net income in the combined three quarters for the year to 9.5 billion yuan, up as much as 289%, according to the filing.
BYD sold 537,164 electric and hybrid cars in the third quarter, 197% higher from a year earlier. The total comfortably beat Tesla, though that company only sells pure EVs. The growing demand for EVs is lifting the broader industry. Leading battery maker Contemporary Amperex Technology Co. Ltd. said on Oct. 10 its third-quarter net income could surge as much as 200% thanks to booming sales in the automotive industry, while LG Energy Solution Ltd.’s operating profit and sales
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Business Maverick: Forecast for US Recession Within Year Hits 100% in Blow to BidenA US recession is effectively certain in the next 12 months in new Bloomberg Economics model projections, a blow to President Joe Biden’s economic messaging ahead of the November midterms. It's the WAR U.S. must STOP fueling RUSSIA ukraine Won't bother zelensky..
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Business Maverick: China stocks slide as Xi disappoints on Covid Zero policyTraders in China hoping for signs of a shift away from Covid Zero and further support for the ailing property sector were disheartened by President Xi Jinping’s speech, spurring a decline in stocks. The benchmark CSI 300 Index slid as much as 0.9% on Monday, after anticipations ahead of the twice-a-decade Party Congress contributed to a jump on Friday. A gauge of Chinese equities listed in Hong Kong slumped as much as 2.2%. 0.9%?
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Business Maverick: Mercedes unveils latest electric SUV aimed at Tesla’s Model YMercedes-Benz Group AG is broadening its battery-powered lineup with a sport utility vehicle that will take on Tesla’s Model Y in another step toward the vehicle manufacturer’s goal to go all-electric by the end of the decade. Great idea for the international market. Not gonna work in SA.
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Business Maverick: Chip Delivery Times Shrink in Sign That Supply Crunch Is EasingChip delivery times shrank by four days in September, the biggest drop in years, in a sign that the industry’s supply crunch is easing.
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