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BYD posts 350% jump in Q3 net profit

SHANGHAI – China’s biggest electric vehicle(EV) maker BYD said its third-quarter net profit jumped 350% from a year ago, helped by a wider range of product offerings and strong sales that saw it beat Tesla in the world’s largest auto market.

BYD‘s net profit for the July-September quarter reached 5.72 billion yuan ($788.75 million), while that for the first nine months increased 281% to 9.31 billion yuan, the company said in a stock exchange filing on Friday.

The result was in line with a forecast the company published last week.

($1 = 7.2520 Chinese yuan renminbi)

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