KATHMANDU: BYD’s net profit increased for the first time in five quarters as strong overseas sales helped offset weaker demand in China.
The Chinese EV maker reported a net profit of around USD 1.2 billion in the April-June quarter, up 30% from the same period last year. Revenue, however, fell around 3%.
BYD has been facing intense competition in its home market from brands such as Geely and Xiaomi. The end of several government subsidies has also added pressure on its domestic business.
The company is now expanding its presence in international markets, particularly Europe. BYD’s overseas revenue accounted for more than half of its total revenue for the first time in the first half of 2026.
BYD exported 792,000 vehicles during the first six months of the year, up 68% year-on-year. Its sales in Europe and the UK increased nearly 2.5 times during the same period.
BYD also sold more electric vehicles than Tesla globally in the first half of 2026. However, its combined sales of EVs and plug-in hybrids fell 3% in the second quarter.
The company is also facing rising raw material and research and development costs as it expands its fast-charging network and continues to launch new models.
