China's NEVs maker reports surging sales revenue up 38%

China's leading new energy vehicle manufacturer BYD, headquartered in Shenzhen, Guangdong province, reported surging sales revenue in the first three quarters of this year, driven by the dramatic increase of NEV sales, according to the company.

The company sold 337,579 NEV units in the first nine months, a year-on-year increase of 204.29 percent, driving its sales revenue to increase by 38.25 percent to 145.19 billion yuan ($22.73 billion).

The surging trend continued in October, with sales of NEVs, including purely electric vehicles and plug-in hybrid electric vehicles, increasing 249.05 percent year-on-year to 81,040 units in a single month, according to a company filing with the Shenzhen Stock Exchange.

In the overseas market, BYD is expected to ship 1,500 electric vehicles to Norway by the end of this year, said the company. 

In the January-September period, China's NEV sales amounted to about 2.16 million units, up 190 percent year-on-year, data from the China Association of Automobile Manufacturers showed.