GUANGZHOU -- More Chinese manufacturers of electric and other new energy vehicles are emerging from years of losses to join BYD in turning a profit, thanks partly to alternatives to pure EVs that lessen the cost burden of batteries.
Seres Group said in January it expects to report a net profit of between 5.5 billion yuan and 6 billion yuan ($750 million to $820 million) for 2024, its first in five years and a turnaround from a 2.4 billion yuan loss in 2023.
