(Bloomberg) BYD Co. is rapidly closing in on Tesla Inc. as the world’s biggest seller of pure electric vehicles, with surging profits underscoring its sales clout despite intensifying competition at home.Most Read from BloombergIsrael Latest: Biden, Netanyahu Plan to Talk Within HoursIsrael Deepens a War With Hamas That Has No End in SightHow This Israel-Hamas Conflict Is Like Nothing That’s Happened BeforeUkraine Recap: Russian Su-25 Fighter Jet Said to be Shot DownGM Hit With More Strikes W
Even as the supercharged rally in Tesla Inc. cools on weaker sales growth, expectations are ramping up for China’s top electric-vehicle maker BYD Co. thanks to record-high profits.
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“I believe this quarter is the sickness season. As we come into Jan-Feb-March, we move into the wellness side. But I am definitely seeing a big pickup in fever and related testing for the sector as well. But the primary headline is on the price front. I am definitely seeing an easing off of price competition.”