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Warren Buffett-backed BYD pops more than 5% after Chinese EV maker forecasts surging profits

by Editor October 18, 2022, 9:29 am 1.7k Views

Warren Buffett-backed BYD pops more than 5% after Chinese EV maker forecasts surging profits

Warren Buffett-backed BYD said it expects a more than 300% jump in third-quarter profit. Despite headwinds including a resurgence of Covid in China, rising material costs and a slowing economy, BYD has remained fairly resilient.

Nathan Laine | Bloomberg | Getty Images

Shares of Chinese electric carmaker BYD rose Tuesday after the company forecast a huge jump in profit for the third quarter.

Late Monday, the Warren Buffett-backed firm said net…

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Posted by Editor

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