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BYD’s Net Profit Triples in First Half of 2019
Chinese electric car specialist BYD Co. doubled its sales of electrified vehicles and tripled its net income in the first half of 2019.
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Chinese electric car specialist BYD Co. doubled its sales of electrified vehicles and tripled its net income in the first half of 2019.
The company says its profit surged to 1.5 billion yuan ($205 million) in January-June from 479 million yuan in the same period last year. Revenue grew 14% to 59.2 billion yuan ($8.4 billion).
BYD’s sales of electrified vehicles climbed 95% to 145,700 cars in the first half, representing a 24% share of China’s overall share of the “new energy” market. Sales of conventional vehicles plunged 45% to 82,400 units.
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