Chinese electric vehicle (EV) manufacturer BYD has reported a significant surge in its first-quarter profit for 2025, doubling to $1.3 billion. This impressive growth underscores BYD’s expanding dominance in the global EV market, outpacing competitors like Tesla.
The company’s revenue for Q1 rose by 36% year-over-year, reaching approximately $23.5 billion. This financial milestone follows BYD’s recent achievement of surpassing $100 billion in annual revenue, further solidifying its position as a leading player in the EV industry.
In contrast, Tesla experienced a challenging quarter, with its profit declining by 71% to $409 million and revenue dropping 9% to $19.34 billion. The American EV maker faces intensified competition in China and other markets, impacting its financial performance.
BYD’s vehicle sales surged by 60% in the first quarter, nearing 1 million units, including both electric and plug-in hybrid models. Meanwhile, Tesla’s vehicle deliveries fell by 13% to 336,681 units during the same period.
Looking ahead, BYD aims to export 800,000 vehicles this year, targeting total sales of 5.5 million units worldwide. The company is expanding its presence in markets like Europe, Mexico, and South America, positioning itself as a formidable competitor to established automakers.
BYD’s strategic focus on innovation, including advancements in fast-charging technology and autonomous driving systems, continues to drive its growth. As the global EV race intensifies, BYD’s robust performance highlights its growing influence in the automotive industry.
