The net profit of a Chinese electric car manufacturer, BYD, quadrupled in the last quarter

The net profit of a Chinese electric car manufacturer, BYD, quadrupled in the last quarter

The largest manufacturer of electric vehicles in China, BYD, stated that net profits in the third quarter had more than quadrupled by a year, thanks to a steady increase in sales and an optimal selection of models in the market, which had already led to an increase in the price of the car concert.

The company estimates a net profit of $765-820 million in July-September, or 333-365.1 per cent more than in the same period last year.

China's car manufacturer, 19% owned by a famous investor, Warren Buffett, Berkshire Hathaway, reported on Monday that profit gains were also facilitated by cost optimization.

Government measures in China to stimulate business have also increased the demand for electric vehicles on the world ' s largest co-author.

The combined sales of BYD pure electric vehicles and hybrids with the possibility of external charge increased by 250 per cent in the first nine months of this year, with an overall global growth of 110 per cent in the same period, previously reported that the company intended to become the world's largest supplier of electric vehicles in the foreseeable future and was preparing to sell 280,000 vehicles every month by the end of the year.