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Strategies & Market Trends : BYD Co. LTD (BYDDY, BYDDF)

BYDDY 13.54

-0.3%

Oct 28 9:30 AM EDT

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From: Savant	4/25/2025 5:35:07 PM
	of 141

Chinese electric car maker BYD’s doubled its profits to $1.3 billion in the first quarter as it continues to surge past its key rival, Elon Musk’s Tesla. The Shenzhen-based firm — whose annual revenue leapfrogged past Tesla’s last month to surpass the $100 billion mark — said quarterly revenue rose 36% to 170.36 billion yuan, or about $23.51 billion, for China’s top-selling car brand. By comparison, Tesla — which has struggled from tougher competition in China, an aging vehicle lineup and public backlash from Musk’s work with the Department of Government Efficiency — earlier this week reported its quarterly profit plunged 71% to $409 million as revenue dropped 9% to $19.34 billion. BYD’s total sales of electric vehicles and plug-in hybrids rose 60% to nearly 1 million in the first quarter. Tesla vehicle shipments — a close proxy for sales — sank 13% to 336,681 over the same period. The company has said it wants to export 800,000 vehicles to international markets this year as part of a projected 5.5-million-unit sales. Chinese electric car giant BYD's profit doubles in blow to Tesla

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