BYD, the Chinese carmaker that recently overtook Tesla as the world’s largest electric vehicle maker, more than tripled its first-half profit on the back of a 300% jump in sales.
BYD achieved its first-half profit despite a strained automotive supply chain when citywide lockdowns in Shanghai and Changchun, the two major car-making bases in China, forced thousands of assemblers and component makers to at least partially suspend production between March and May.