Chinese electric carmaker BYD triples half-year profit

It posted net earnings of 10.95 billion yuan for the January-June period.

BEIJING: BYD, China’s leading electric carmaker, said today its half-year net profit had tripled based on record demand.

The result was in line with estimates made by BYD in July of between 10.5 billion and 11.7 billion yuan.Electric vehicle demand has soared in recent years in China, which is the world’s biggest producer of greenhouse gases in absolute terms, and BYD wants its sales to be dominated by electric and hybrid vehicles by 2035.

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