Etiqueta: exports

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.

BYD's first-quarter profit leapt 100.4% from a year earlier, the fastest pace in nearly two years, as the Chinese electric vehicle giant extends its lead in its competitive home market by launching a smart EV price war. Net profit totalled 9.2 billion yuan ($1.26 billion), a stock filing showed on Friday, compared with the company's earlier estimate of 8.5 billion yuan to 10 billion yuan. Revenue came in at 170.4 billion yuan in the quarter, up 36.4% year-on-year versus a 10.6% rise in the previous quarter.

The inside story on the Asia tech trends that matter, from Nikkei Asia and the Financial Times

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Chinese leading electric vehicle manufacturer BYD has launched the world's largest cargo ship for vehicles, marking a significant advancement in its global sales and supply chain layout.

The 2025 Shanghai International Automobile Industry Exhibition, or Auto Shanghai, will open on a record-breaking scale on Wednesday. With over 100 world premieres in the spotlight, it will serve as a global showcase of automotive innovation and cutting-edge technologies, while highlighting China’s key role in promoting international cooperation and its firm commitment to opening-up policies, according to a Chinese expert.

BYD sold 1 million new energy vehicles in Q1, with exports up 111% to 206,000 units.