{"text":[[{"start":9.76,"text":"BYD’s third-quarter earnings jumped nearly 30 per cent as exports helped to offset sluggish sales in the Chinese electric-vehicle maker’s home market."}],[{"start":18.08,"text":"The Shenzhen-based group has been aggressively targeting overseas markets where its relatively low-cost, high-tech cars are threatening markets long dominated by carmakers from Volkswagen to Toyota."}],[{"start":28.12,"text":"BYD’s expansion to foreign markets has become increasingly urgent over the past year amid intense competition from local rivals, a pullback in state subsidies for EVs and a government crackdown on poor treatment of suppliers."}],[{"start":41.24,"text":"On Thursday, BYD reported net profit of Rmb10bn ($1.5bn) for the three months to September 30, up 28 per cent from last year but well short of analysts’ expectations according to a Bloomberg poll."}],[{"start":54.68,"text":"BYD’s results are illustrative of a broader pattern in the Chinese automotive industry."}],[{"start":59.84,"text":"China’s total vehicle exports are 67 per cent higher this year at 8.2mn units, already surpassing last year’s record high, according to data from Automobility, a Shanghai consultancy."}],[{"start":71.4,"text":"However, domestic Chinese sales are tracking more than 22 per cent lower year on year, with petrol and diesel cars down by a third."}],[{"start":79.16,"text":"While EV sales in China have also slowed from the rapid growth of the past five years, they are now capturing about two-thirds of car sales in the world’s largest automotive market."}],[{"start":88.14,"text":"BYD remains the dominant company in China’s EV market — which includes both battery and plug-in hybrid cars — with a 22 per cent share, Automobility data showed."}],[{"start":98.52,"text":"Amid rising trade frictions over China’s auto export surge, BYD is among a clutch of Chinese groups racing to build out a global manufacturing base."}],[{"start":112.44,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1793274693_1406.mp3"}