- Revenue at China's BYD rose 24% to $28.2 billion - This is lower than forecast, but higher than Tesla (it was $25.2 bln) - Net income reached a record $1.6 billion (+11.5%) - BYD sold 1.12 million EV cars and hybrids in the quarter - Tesla deliveries totaled 462.9k units (EV autos only) - BYD's profit is second to Tesla ($1.6 billion vs. $2.2 billion) - Hybrids are the main reason for BYD's revenue growth - Also helps with in-house parts manufacturing, etc. - That said, Tesla's current lineup of EV autos is already outdated - Tesla is putting more focus on Cybertruck production - BYD is expected to sell 4 million units by the end of 2024 - As of September, sales totaled 2.74 million units - BYD may sell up to 500k units/month by November