BYD Company Limited (BYD) has disclosed that its research and development expenses for the first three quarters of the year reached 36.3 billion yuan, while its net profit attributable to shareholders over the same period stood at 22.3 billion yuan.
The company's R&D spending exceeded its net profit by 14 billion yuan.
On a cumulative basis, BYD's total R&D investment has now surpassed 280 billion yuan.
Regarding the intensity of its investment, the company explained that the new energy industry is still growing at a rapid pace, and the true moat is not short-term profit, but core technologies held firmly in its own hands.
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