Electric transport
Surge in BYD Co. Profits in Q1: Factors and Outlook
Chinese automotive giant BYD Co. announced on Tuesday that its net profit for the first quarter of 2025 could more than double compared to the same period last year. This statement comes after a slow start to the year when the company sold over 1 million vehicles. According to preliminary reports, the net profit for the three months ending March 31 is expected to reach between 8.5 billion and 10 billion yuan, equivalent to approximately 1.2 to 1.4 billion U.S. dollars. This implies a profit growth of 86-119% compared to last year's first-quarter profit of 4.6 billion yuan.