Chinese electric vehicle giant BYD reported surging sales on Wednesday, surpassing global rival Tesla in quarterly revenue for the first time as its push into overseas markets advances.
The EV and battery giant is a leading player in recent efforts by Chinese automotive firms to expand overseas — plans that are increasingly threatened by thorny trade disputes between Beijing and the West.
BYD posted operating revenue of 201.1 billion yuan ($28.2 billion) during the third quarter, a filing at the Hong Kong Stock Exchange showed, up 24 percent from the same period last year.
The Shenzhen-based firm’s quarterly revenue figure for the first time exceeded that of American EV powerhouse Tesla, which last week posted $25.2 billion in third-quarter revenue.
BYD’s net profit …