BYD Co., a leading Chinese manufacturer of new energy vehicles (NEV), reported record net profit and revenue in the third quarter. From July to September 2024, the company’s net profit rose by 11.5% to an all-time high of $1.63 billion. Revenue increased by 24% to $28.24 billion.
During this period, BYD surpassed American “Tesla” in quarterly revenue for the first time, with “Tesla” earning $25.2 billion.
In July-September, BYD sold approximately 1.135 million electric and hybrid vehicles, a 37.7% increase from the previous year. This marked the first time sales exceeded 1 million units in a quarter.
Energy
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At a meeting in Istanbul, the board of directors of SOCAR Türkiye discussed the company’s goals and projects for the upcoming year, SOCAR Türkiye reported.
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As of January-November 2024, Azerbaijan’s electricity production totaled 23.55 billion kWh, by 2.2% lower than in the same period last year.
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From January to November 2024, Azerbaijan exported 1.745 billion kWh of electricity worth $93.9 million, the monthly report of the State Customs Committee of Azerbaijan. This is by $285.4 million (75.2%) less than in the same period last year and 2.178 billion kWh (55.5%) less in volume. Electricity exports during the reporting period accounted for 0.39% of Azerbaijan’s total exports and 3.04% of non-oil sector exports.
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Türkiye has received an exemption from the United States for "Gazprombank" in relation to payments for Russian gas, the NTV channel reported citing a statement by Türkiye's Minister of Energy, Alparslan Bayraktar. It is noted that this issue was previously discussed with U.S. Secretary of State Antony Blinken during his visit to Türkiye.
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