BEIJING (Reuters) – Chinese electric vehicle (EV) maker BYD posted its weakest quarterly profit growth since 2022 on Monday, hit by slowing EV demand and a bruising price war in the world’s largest auto market.
First-quarter net profit was up 10.6% at 4.57 billion yuan ($631.08 million) while revenue grew by 4% to 124.94 billion yuan, BYD said in a stock market filing.
($1 = 7.2416 Chinese yuan renminbi)
(Reporting by Qiaoyi and Brenda Goh; Editing by David Goodman)
