$BYD COMPANY (01211.HK)$$BYD Co. (BYDDF.US)$$Tesla (TSLA.US)...

Tesla pegged 1.8 - 2 m units as an achievable goal this year. Its Q2 operating profit of USD2.4 b, however, dipped slightly YoY.

While BYD will net USD1.64 b in profit for this past quarter, trailing Tesla's by a third, its profits are up 200% YoY. QoQ, its net profit also beat that of Tesla.

BYD will hit the same 18% gross margin that Tesla managed. What's even more striking is that, unlike Tesla, its operating profit will be up 192% - 225% YoY, according to its earnings preview. That's despite Tesla's price war and is mainly due to the drastic rise in sales of "new energy vehicles".

Buoyed by record EV sales, BYD could catch up with Tesla in production and profits, if it keeps growing with the current rate.