BYD Overtakes Tesla in Quarterly Revenue for the First Time

Chinese EV maker BYD's quarterly revenue surpasses Tesla's amid strong sales and government incentives.

BYD reported a 24% increase in third-quarter revenue to $28.2 billion, exceeding Tesla's $25.2 billion.
The rise in revenue is attributed to strong sales of plug-in hybrids and government subsidies in China.
BYD sold nearly 1.1 million vehicles in the third quarter, marking a record for the company.
Despite the revenue win, Tesla sold more electric vehicles globally during the same period.
BYD faces challenges abroad with new EU tariffs on Chinese EVs, affecting its international expansion plans.