Chinese EV maker BYD said on Monday that its third-quarter net profit will be more than triple compared to the same period in 2021 at between RMB 5.5 billion and RMB 5.9 billion ($760 million to $820 million), despite a challenging economic situation, Covid-19 rebound, and soaring prices of key components. Such figures would see profit at the Warren Buffett-backed company grow 272.5% annually and total at least RMB 9.1 billion for the first nine months of 2022, with the Chinese auto giant delivering a record 1.18 million EVs over the period. Shares of BYD rose 6% to HK$ 204.6 ($26.06) in morning trading on Tuesday in Hong Kong following the news. [BYD release, in Chinese]
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