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Tesla Inc.‘s (NASDAQ:TSLA) Chinese rivals BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) and Geely Automobile Holdings Ltd. (OTC:GELYF) (OTC:GELHY) reported declining profits amid slowing demand and fluctuating foreign exchange.
BYD Reports Profit Decline
On Tuesday, BYD released its quarterly financial report, sharing that its profits plunged 55% as profits of over $594 million were reported attributable to shareholders in the company. BYD’s Q1 revenue was around $21.97 billion, down 11.82% YoY from the same period in 2025.
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