China’s electric vehicle giant BYD sees Q3 net profit as much as doubling

Chinese electric vehicle giant BYD on Tuesday said it expects third-quarter net profit to as much as double thanks to robust sales and effective cost control. "Despite the increasingly intensified competition in the automobile industry in the third quarter, the company continued to record profit," BYD said in the filing. This was down to the company "leveraging on its improving brand influence, continuously expanding scale advantage and strong industrial chain-wide cost control capability, demonstrating strong resilience", it said.