Breakingviews - Electric cars charge up $1.8 bln BYD share sale
released the same day. Earnings fell by 28% year-on-year in the third quarter, and its net profit margin was less than 1% after stripping out one-offs like government grants. Although the company claims around half of its revenue from an eclectic assortment of mobile handsets, medical masks and solar panel products, autos and their batteries make up the rest and sales of its new-energy vehicles are booming.
in September, per Bernstein. It also has a unique advantage over Musk’s marque: BYD produces its own batteries and semiconductors, providing some protection against snarled supply chains. As enthusiasm for its battery-powered car business grows, so too does the caseCapital Calls - More concise insights on global finance:
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