Skip to content
Subscriber Only
Markets

Buffett-Backed BYD’s Profit Surges as Electric-Car Sales Recover

  • Buyers return to showrooms after pandemic eases in China
  • China’s biggest carmaker by market cap vies with Tesla, NIO
Shares of BYD have more than quadrupled this year to a record, making it China’s largest carmaker by market value.

Shares of BYD have more than quadrupled this year to a record, making it China’s largest carmaker by market value.

Photographer: Qilai Shen/Bloomberg
By
Bloomberg News

BYD Co. third-quarter earnings surged, with the Warren Buffett-backed automaker benefiting from recovering electric-car demand in China and surging sales at its new face-mask business.