Chinese EV giant BYD's first-quarter profit jumps fivefold

Chinese EV giant BYD's first-quarter profit jumps fivefold

FILE PHOTO: A man cycles past an entrance to the headquarters of Chinese electric car maker BYD in Shenzhen's Pingshan district, Guangdong province, China October 25, 2019. REUTERS/Yilei Sun

Chinese electric vehicle giant BYD Co. posted a fivefold jump in its first-quarter profit on Thursday as the company consolidated its leadership in the domestic market.