BYD returns to profit growth
Chinese electric vehicle company BYD achieved its first profit increase in five quarters, supported by rising demand for higher-priced models and increased sales in foreign markets, which accounted for 53% of its revenue. Its second-quarter profits surpassed $1.2 billion, a 30% year-over-year increase, despite a 3% decline in revenue. These results follow efforts to expand in Europe and South America, where its international sales grew by 34%. The company outperformed Tesla in global sales during the second quarter of 2026, with expectations that electric vehicles will make up around 80% of the market in the coming period.
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