BYD on Monday forecast an up to 86.5% year-on-year increase in its net profit to RMB 31 billion ($4.3 billion) for 2023. The Warren Buffett-backed automaker also said on Jan. 16 that it has hired more than 4,000 engineers for automated driving as part of an RMB 100 billion long-term investment initiative. Rival Tesla’s net income dropped 39% year-on-year but grew 7.2% quarter-on-quarter to $2.5 billion in the fourth quarter of last year. BYD share prices dipped 5.5% during Tuesday’s morning trading session in Hong Kong. [BYD filing, in Chinese]Related