STORY: BYD’s first-quarter profit leapt more than 100% from a year earlier.
It was the fastest pace in nearly two years for the Chinese electric vehicle giant.
And it extends BYD’s lead in its competitive home market after the carmaker launched an EV price war.
A stock filing showed Friday (April 25) net profit reached $1.26 billion – roughly in line with projections.
Revenue came in at $23.3 billion during the quarter, up over 36% year-on-year.
China’s biggest EV maker has made waves in the market over the past few months as it tries to extend its lead in its home market.
It offered its «God’s Eye» driver-assistance system as a standard feature at no extra cost across its lineup.
And it unveiled a new super-charging EV technology platform.
It led rivals like Geely and Toyota to follow suit with affordable EVs containing smart features.
Outside of its home market, the automaker has targeted exports of 800,000 vehicles this year.
