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China's BYD overtakes Tesla revenue for first time

The Chinese electric vehicle giant BYD has seen its quarterly revenues soar, beating Tesla's for the first time.

It posted more than $28.2-billion in revenues between July and September.

This is a 24% jump from the same period last year and more than Elon Musk's company, whose quarterly revenue was $25.2bn.

However, Tesla still sold more electric vehicles than BYD in the third quarter.

It comes as EV sales in China have been getting a boost from government subsidies to encourage consumers to trade their petrol-powered cars for EVs or hybrids.



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