BREAKINGVIEWS-BYD is unscathed in China's electric-car wars

Reuters03-27

(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.)

By Katrina Hamlin

HONG KONG, March 27 (Reuters Breakingviews) - The world’s largest EV maker founded and led by Wang Chuanfu is winning market share and accelerating its profit margins. That suggests the $86 bln company can keep escalating a price war and investing overseas despite reporting its slowest quarterly profit growth in two years.

Full view will be published shortly.

Follow @KatrinaHamlin on X

CONTEXT NEWS

Chinese electric-car maker BYD on March 26 reported its net profit up 81% to 30 billion yuan ($4.15 billion) in 2023. Revenue grew 42% to 602 billion yuan over the same one-year period.

BYD’s Hong Kong-listed shares fell 1.5% to HK$3.2, while its Shenzhen listed shares fell 1.2% to 2.57 yuan in morning trade.

(Editing by Una Galani and Nivedita Bhattacharjee)

((For previous columns by the author, Reuters customers can click on katrina.hamlin@thomsonreuters.com; Reuters Messaging: katrina.hamlin.thomsonreuters.com@reuters.net))

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