Buffett-backed EV maker BYD's profit grew 111% in first-quarter

Buffett-backed EV maker BYD's profit grew 111% in first-quarter - Copyright (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html

Copyright (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html

By Reuters

Published on 28/04/2021 - 22:45•Updated 19/04/2024 - 08:47

BEIJING (Reuters) - Chinese electric vehicle maker BYD Co Ltd, which is backed by U.S. investor Warren Buffett, on Wednesday reported growth of 110.7% in first-quarter net profit.

BYD reported 237.4 million yuan ($36.61 million) net profit in the first three months this year, up from 112.6 million yuan a year earlier. Its revenue grew 108% year-on-year to 41 billion yuan in the first quarter.

(Reporting by Yilei Sun and Tony Munroe, editing by Louise Heavens)

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