BYD revenue eclipses Tesla for first time as EV giants go head to head

BYD Co. notched up another win over Tesla Inc. on Wednesday, reporting quarterly revenue that beat Elon Musk’s carmaker for the first time since the pair have gone head-to-head in global electric vehicles sales.

Revenue for China’s best-selling automaker soared 24% year-on-year to RMB201.1 billion (US$28.2 billion or $37.37 billion) for the three months ending Sept 30, falling short of estimates, but exceeding Tesla whose sales hit US$25.2 billion in the same period.