China’s BYD boosts production and hiring amid Q3 growth
12:21 am Sunday, November 03rd, 2024
BEIJING (Reuters) – China’s electric vehicle giant BYD ramped up production by nearly 200,000 units from August to October, while hiring close to 200,000 new employees in car manufacturing and components, Executive Vice President He Zhiqi said on Weibo on Saturday.
BYD posted an 11.5% rise in third-quarter net profit as it maintained strong sales momentum.
Revenue for the July-September period surged 24% on year to 201.1 billion yuan ($28.24 billion), the first obvious win for BYD on quarterly revenue versus Tesla since the Chinese automaker stopped producing gasoline engine vehicles in 2022.
($1 = 7.1214 Chinese yuan renminbi)
(Reporting by Ethan Wang, Qiaoyi Li and Bernard Orr; Editing by Michael Perry)
