BYD’s net profit leaps 73.1% in fourth-quarter as Chinese EV maker sees boost from lower prices

Chinese electric vehicle maker BYD’s net profit leapt 73.1 per cent in the fourth quarter of 2024 to a record 15 billion yuan ($2.1-billion), it said on Monday, reaping the rewards of lower prices and higher sales than rivals. Fourth-quarter revenue was up 52.7 per cent at 274.9 billion yuan, the company said in a stock market filing. For the whole of last year, profit rose 34 per cent to a record 40.3 billion yuan on revenue up 29 per cent. BYD’s shares in Hong Kong have risen by 51 per cent year-to-date and are currently slightly off an all-time-high…