Auto Supplier ZF Group Signs Deal with Nio (NIO)

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BYD Releases 3Q Estimated Results Showing Record Sales

October 18, 2022 7:40 AM EDT

Shares of BYD Co. jumped as much as 7.25% on Tuesday after the Warren Buffet backed Chinese auto maker announced its estimated 3Q numbers and said its third-quarter profit may surge up to 365%.

Results for BYD were better than expected, wrote Citi analyst Jeff Chung on Monday. The earnings beat was attributable to strong EV volume growthand mix improvements, wrote Chung, adding that... More