A Chinese electric vehicle maker backed by billionaire Warren Buffet’s diversified holding group Berkshire Hathaway has revealed that it has more than tripled its annual profits. BYD said last week that profits from the first half of the year totaled 10.5 billion yuan to 11.7 billion yuan ($1.4 billion- $1.6 billion). This represents a year-over-year profit increase of 192% to 225%, the EV maker said.
BYD has been the top-selling electric vehicle manufacturer in China, outselling even Tesla in its local market and threatening to…
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