Business
BYD’s Overseas Push Drives Quarterly Profit Growth
BYD’s net profit rebounded despite slightly lower revenue in the second quarter, showing that the world’s top electric-vehicle seller may have turned a corner with the help of its rapid expansion overseas.
China’s leading carmaker has been working to put soft domestic sales in its rear-view mirror following an intense price war and slowing demand in the world’s largest auto market. Its exports now account for a rising share of total sales volume as the EV maker bets on its overseas growth, especially in Europe and Latin America, to drive its next phase of expansion.
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