BYD Q2 net profit surges despite discounting

BYD earnings — BYD has taken a significant lead in the Chinese electric and plug-in hybrid vehicle sector, leveraging a vertical integration strategy by using key components such as batteries made by the company. (BLOOMBERG/Bloomberg)

By:

Reuters

August 28, 2024 02:13 PM

BEIJING — Chinese electric vehicle maker BYD reported improved net profits in the second quarter thanks to its extended market leadership, even though it led a protracted price war with aggressive discounts on its best-selling models.

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