Loading…
Loading…
BYD's net profit rose 28% in the third quarter as the world's top electric-vehicle seller pushed ahead with its overseas expansion to offset slowing demand in its home market of China.
Chinese electric vehicle maker BYD reported a smaller-than-expected 28% rise in third-quarter profit on Thursday, though strong export growth helped offset persistent weakness in its home market.
China's BYD plans to double capacity at Brazilian plant
BYD Company Limited (OTCMKTS:BYDDF - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday. The company traded as low as $9.00 and last traded at $9.37, with a volume of 127,321 shares trading hands. The stock had previously closed at $9.41. Analyst Ratings Changes Separately, UBS Group set a $20.00
Two years ago, nine brands from China were at the event. This time, there were about 20.
The number one challenge to expansion for BYD is geopolitics, Stella Li, BYD's executive vice president, said on Thursday, months after the Chinese company's chairman said it aims to become the world's largest automaker within five years.
The EU is the world's third-largest car market. Car makers sell about 13 million cars there a year, behind America's 16 million and China's 34 million.
Chinese electric vehicle maker BYD's global sales rose for a fifth straight month in September, buoyed by strong exports that have increasingly become a key pillar offsetting persistently weak demand at home.