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China’s largest EV maker, BYD, scored a record $1.42 billion in Q3 profit despite an intensifying price war. The Chinese automaker is closing in on Tesla as we approach the end of the year in pure EV sales.

BYD came within a few thousand vehicles of surpassing Tesla as the largest EV maker globally in the third quarter.

The automaker’s sales have been climbing all year, with a record 151,193 fully electric vehicles sold in September alone.

BYD’s EV sales reached 431,603 in Q3, propelling it closer to Tesla. Tesla delivered 435,059 EVs in the third quarter as it works its way toward its 1.8 million target for the year.

Tesla and BYD have cut prices drastically this year as they look to advance their dominance in the EV industry. Following another price reduction earlier this month, Tesla’s Model 3 is the cheapest it’s ever been.

The move has rippled across the industry, forcing many legacy automakers like Ford, Hyundai, Volkswagen, and others to follow.

BYD-Toyota's-market
BYD SEAL (Source: BYD)

BYD posts record Q3 profit despite EV price cuts

Despite the lower prices, BYD posted a record profit in Q3. The automaker announced Monday it scored a net profit of $1.42 billion (RMB 10.41), up 82% compared to last year.

The increase in sales led to BYD’s operating revenue rising 38% YOY to $22.2 billion (RMB 162 billion).

BYD’s gross margins also reached 22.12% in the quarter, its highest in three years. The company said in a filing earlier this month it expected record Q3 profit as it gained control over scaling and supply chain costs.

BYD-Q3-profit
BYD Dolphin EV (Source: BYD)

After dominating in the world’s largest EV market, BYD is already leading several overseas markets like Thailand, Brazil, and Columbia.

With new launches in Japan, Mexico, Australia, India, Hungary, and others, BYD looks to keep the momentum going into the end of the year.

Electrek’s Take

BYD has an advantage as it expands globally. Although the automaker doesn’t sell its EVs in the US (they do sell electric buses), you may own one of its products.

BYD started as a battery company and is now the largest global supplier of rechargeable batteries. The company even outsources batteries to other automakers like Tesla, Toyota, Kia, and others.

The company is nearly entirely vertically integrated, with specific divisions for every component. For example, all components on the Dolphin electric hatch are made in-house, expect the tires and windows. This is a big reason behind BYD’s Q3 profit surge.

The fourth quarter is shaping up to be an interesting one as BYD looks to close the gap with Tesla to become the top EV maker globally.

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Day 1 of the Electrek Formula Sun Grand Prix 2025 [Gallery]

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Day 1 of the Electrek Formula Sun Grand Prix 2025 [Gallery]

Today was the official start of racing at the Electrek Formula Sun Grand Prix 2025! There was a tremendous energy (and heat) on the ground at NCM Motorsports Park as nearly a dozen teams took to the track. Currently, as of writing, Stanford is ranked #1 in the SOV (Single-Occupant Vehicle) class with 68 registered laps. However, the fastest lap so far belongs to UC Berkeley, which clocked a 4:45 on the 3.15-mile track. That’s an average speed of just under 40 mph on nothing but solar energy. Not bad!

In the MOV (Multi-Occupant Vehicle) class, Polytechnique Montréal is narrowly ahead of Appalachian State by just 4 laps. At last year’s formula sun race, Polytechnique Montréal took first place overall in this class, and the team hopes to repeat that success. It’s still too early for prediction though, and anything can happen between now and the final day of racing on Saturday.

Congrats to the teams that made it on track today. We look forward to seeing even more out there tomorrow. In the meantime, here are some shots from today via the event’s wonderful photographer Cora Kennedy.

Stay tuned for more!

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You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. Be sure to check out our homepage for all the latest news, and follow Electrek on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our YouTube channel for the latest reviews.

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Tesla sold 5,000 Cybertrucks Q2, Optimus is in chaos, plus: the Infinity Train!

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Tesla sold 5,000 Cybertrucks Q2, Optimus is in chaos, plus: the Infinity Train!

The numbers are in and they are all bad for Tesla fans – the company sold just 5,000 Cybertruck models in Q4 of 2025, and built some 30% more “other” vehicles than it delivered. It just gets worse and worse, on today’s tension-building episode of Quick Charge!

We’ve also got day 1 coverage of the 2025 Electrek Formula Sun Grand Prix, reports that the Tesla Optimus program is in chaos after its chief engineer jumps ship, and a look ahead at the fresh new Hyundai IONIQ 2 set to bow early next year, thanks to some battery specs from the Kia EV2.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

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Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.


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Tesla launches Oasis Supercharger with solar farm and off-grid batteries

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Tesla launches Oasis Supercharger with solar farm and off-grid batteries

Tesla has launched its new Oasis Supercharger, the long-promised EV charging station of the future, with a solar farm and off-grid batteries.

Early in the deployment of the Supercharger network, Tesla promised to add solar arrays and batteries to the Supercharger stations, and CEO Elon Musk even said that most stations would be able to operate off-grid.

While Tesla did add solar and batteries to a few stations, the vast majority of them don’t have their own power system or have only minimal solar canopies.

Back in 2016, I asked Musk about this, and he said that it would now happen as Tesla had the “pieces now in place” with Supercharger V3, Powerpack V2, and SolarCity:

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All of these pieces have been in place for years, and Tesla has now discontinued the Powerpack in favor of the Megapack. The Supercharger network is also transitioning to V4 stations.

Yet, solar and battery deployment haven’t accelerated much in the decade since Musk made that comment, but it is finally happening.

Last year, Tesla announced a new project called ‘Oasis’, which consists of a new model Supercharger station with a solar farm and battery storage enabling off-grid operations in Lost Hills, California.

Tesla has now unveiled the project and turned on most of the Supercharger stalls:

The project consists of 168 chargers, with half of them currently operational, making it one of the largest Supercharger stations in the world. However, that’s not even the most notable aspect of it.

The station is equipped with 11 MW of ground-mounted solar panels and canopies, spanning 30 acres of land, and 10 Tesla Megapacks with a total energy storage capacity of 39 MWh.

It can be operated off-grid, which is the case right now, according to Tesla.

With off-grid operations, Tesla was about to bring 84 stalls online just in time for the Fourth of July travel weekend. The rest of the stalls and a lounge are going to open later this year.

Electrek’s Take

This is awesome. A bit late, but awesome. This is what charging stations should be like: fully powered by renewable energy.

Unfortunately, it will be much harder to open those stations in the future due to legislation that Trump and the Republican Party have just passed, which removes incentives for solar and energy storage, adds taxes on them, and removes incentives to build batteries – all things that have helped Tesla considerably over the last few years.

The US is likely going to have a few tough years for EV adoption and renewable energy deployment.

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