When Elon Musk’s Tesla Inc. delivered positive earnings few saw coming last quarter, China’s top electric carmakers were weathering a historical contraction in demand.
Warren Buffett-backed BYD Co., the country’s biggest maker of new energy vehicles -- all-electric, fuel-cell and plugin hybrid cars -- just reported an 89% slump in third-quarter earnings and warned profit could fall as much as 43% this year. BAIC BluePark New Energy Technology Co., China’s biggest maker of all-electric automobiles, also forecast a 2019 loss in a grim earnings update.
