The First Quarter’s Earnings For BYD Doubles

China’s BYD says it doubled its profit in the first quarter, increasing its advantage over competitors in the world’s largest market through a price war.

According to a stock exchange filing, the Chinese giant closed the January-March period with a net profit of 9.2 billion yuan ($1.26 billion). In the same period last year, profit was 4.6 billion yuan.

Its revenue was 170.4 billion yuan, up 36.4 percent from the same period last year.

At the beginning of the month, the company announced that it had delivered one million new energy vehicles to customers in the first three months of this year, 60 percent more than in the same period in 2024.

China’s largest electric vehicle manufacturer has stirred up the market by including the “God’s Eye” driving assistance system as standard equipment on all models and introducing a new technology for ultra-fast electric vehicle charging.

With these moves, he encouraged competitors like Leapmotor, Geely, and Toyota to follow his example and also offer customers more affordable models with ‘smart’ features.

By opening a new front in a long-running price war in the world’s largest car market, BYD is seeking to increase its lead over its competitors. Its share in the first quarter was 13.6 percent. In the same period last year, it was 12.1 percent.

The share of two companies founded by German Volkswagen together with Chinese partners fell from 13.7 to 12.1 percent in the same period. BYD generates around 90 percent of its revenue on the domestic market, and this year it intends to export 800,000 vehicles.

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