Chinese EV giant BYD's first-quarter profit jumps fivefold
It sold 552,076 vehicles and made almost $600 million in profitsgiant BYD Co. posted a fivefold jump in its first-quarter profit on Thursday as the company consolidated its leadership in the domestic market.
Net profit for the first three months of the year was 4.13 billion yuan , up 410.9% from 808.41 million yuan a year earlier, on revenue up 79.8% at 120.17 billion yuan, the company said in aThe Shenzhen-based company, whose investors include Warren Buffett's Berkshire Hathaway, outsold Volkswagen-branded cars in the first quarter of this year inBuoyed by its Dynasty and Ocean series of plug-in
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