(Corrects previous quarter’s year-on-year revenue growth to 52.7%, not 10.6%, in paragraph 3)
BEIJING (Reuters) – BYD’s first-quarter profit leapt 100.4% from a year earlier, the fastest pace in nearly two years, as the Chinese electric vehicle giant extends its lead in its competitive home market by launching a smart EV price war.
Net profit totalled 9.2 billion yuan ($1.26 billion), a stock filing showed on Friday, compared with the company’s earlier estimate of 8.5 billion yuan to 10 billion yuan.
Revenue came in at 170.4 billion yuan in the quarter, up 36.4% year on year versus a 52.7% rise in the previous quarter.
($1 = 7.2868 Chinese yuan renminbi) (This story has been corrected to fix previous quarter’s year-on-year revenue growth to 52.7%, not 10.6%, in paragraph 3)
(Reporting by Qiaoyi Li, Zhang Yan, Ethan Wang and Brenda Goh. Editing by Mark Potter)
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