Arrow Artboard Created with Sketch. Artboard Created with Sketch. Title Chevron Title Chevron Icon Facebook Icon Linkedin Icon Mail Contact Path Layer Icon Mail Positive Arrow Icon Print Business China's BYD posts 79% profit jump for 2016 Carmaker got turbo boost from subsidies for electric cars, hybrids YU NAKAMURA, Nikkei staff writer March 30, 2017 02:00 JST | China
HONG KONG --
BYD's net profit shot up more than twice as fast as its revenue last year as the Shenzhen-based Chinese automaker reaped the benefits of generous eco-car subsidies from the government.
Profit grew 79% on the year in 2016 to 5.05 billion yuan ($733 million), the company said Wednesday. Revenue rose 29% to 100 billion yuan, double the 2013 figure.
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