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EV market: How BYD is increasing its profits despite the discount battle

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Published: August 29th, 2024,
Last updated: September 14th, 2024

Amid a discount battle on the domestic market, the Chinese electric vehicle manufacturer BYD has significantly increased its profit in the second quarter. Despite its aggressive pricing policy, consolidated profit soared by 32.8 percent to 9.1 billion yuan (€1.15 billion), BYD announced on Wednesday. This is the biggest jump in profits since the end of 2023. Sales climbed by a quarter to 176.2 billion yuan from April to June.

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Autoindustrie Batterien E-Autos