BYD, China’s leading electric vehicle (EV) manufacturer, reported a net profit of 9.2 billion yuan (US$1.26 billion) for the first quarter, surpassing its earlier estimate. Revenue reached 170.4 billion yuan, up 36.4% year-on-year. BYD intensified competition in China’s EV market by offering its “God’s Eye” driver-assistance system as a standard feature and introducing a new super-charging EV platform. These moves, part of a broader price war, increased BYD’s market share to 13.6% from 12.1% a year ago, while rivals like Volkswagen saw their share decline. Competitors, including Leapmotor, Geely, and Toyota, have responded by launching affordable EVs with smart features.
Business News
BYD reported a net profit of US$1.26 billion for the first quarter
BYD intensified competition in China's EV market by offering its "God's Eye" driver-assistance system as a standard feature and introducing a new super-charging EV platform
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