Chinese electric vehicle giant BYD reported surging sales on Wednesday, surpassing global rival Tesla in quarterly revenue for the first time as its push into overseas markets advances. The Shenzhen-based firm's quarterly revenue figure for the first time exceeded that of American EV powerhouse Tesla, which last week posted $25.2 billion in third-quarter revenue.

BEIJING: Chinese electric vehicle giant BYD reported surging sales on Wednesday (Oct 30), surpassing global rival Tesla in quarterly revenue for the first time as its push into overseas markets advances. The EV and battery giant is a leading player in recent efforts by Chinese automotive firms to expand ov

The milestone comes amid tough competition in China, the world's largest auto market, as well as higher tariffs on imports of Chinese EVs into the EU.

Asian equities were mixed overnight after Microsoft and Meta reported disappointing financial results after the US market closed, though Mainland China outperformed.