TOKYO -- Tesla and BYD drastically outperformed traditional automakers in recent earnings growth as their early and exclusive focus on electrified vehicles pays off while other industry players struggle to shift away from gasoline-powered cars.
Automobiles
Tesla, BYD race past legacy automakers in profits on early EV embrace
European and Japanese models squeezed in Chinese market, pulling down earnings
Among 11 leading global automakers, only Tesla and BYD reported net profit growth on the year in July-September. (Source photos by Nikkei)
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