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BYD profit surges 100.4% as smart EVs drive growth

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(Credit: BYD)

China’s leading automaker, BYD, reported a 100.4% profit surge in the first quarter, partly driven by its smart electric vehicle (EV) features. BYD’s net profit reached 9.2 billion yuan ($1.26 billion), exceeding the company’s earlier forecast of RMB 8.5 billion ($1.1 billion) to RMB 10 billion ($1.3 billion), according to a Friday stock filing.

The Chinese automaker’s revenue for the quarter hit RMB 170.4 billion ($23 billion), up 36.4% year-on-year, though growth slowed from the prior quarter’s 52.7% rise. BYD’s dominance in China grew stronger, with its market share climbing to 13.6% from 12.1% a year earlier. The company’s “God’s Eye” driver-assistance system–now standard across its lineup at no extra cost–and a new supercharging EV platform have fueled its edge.

Industry observers noted that BYD’s strides with God’s Eye and EV supercharging platform have encouraged Leapmotor, Geely, and Toyota to push harder with their affordable smart EVs. BYD’s strategy of slashing prices while enhancing technology has roiled the market, solidifying its lead in China’s fiercely competitive EV sector.

Beyond its home market, BYD aims to export 800,000 vehicles this year. However, its European expansion has faced hurdles. The Chinese company’s rapid response to its European challenges reflects its broader ambition to dominate global EV markets.

BYD’s ability to combine affordability with advanced features has pressured competitors to adapt, intensifying the global race for EV supremacy. In China, BYD’s price war shows no signs of slowing, with its market share gains signaling robust demand for its smart, cost-competitive vehicles. As BYD refines its international strategy, its first-quarter performance underscores its growing influence in the automotive industry.

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Note: BYD sells hybrids and internal combustion engine cars alongside its electric vehicles.

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Xiaomi CEO congratulates Tesla on first FSD delivery: “We have to continue learning!”

Xiaomi has become one of Tesla’s strongest rivals in China.

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Credit: Tesla/X

Just days after unveiling the Xiaomi YU7, a vehicle that is considered as the Model Y’s strongest competitor yet, Xiaomi CEO Lei Jun gave a nod of respect to Tesla and its Full Self-Driving (FSD) program. 

In a post on Weibo, Lei Jun highlighted the remarkable nature of Tesla’s first autonomous delivery. He also acknowledged that Xiaomi still has much to learn in the electric vehicle industry.

Xiaomi CEO’s Nod of Respect

Lei Jun’s comments about Tesla’s FSD delivery were shared as a response to Tesla VP Grace Tao’s post about the recent feat. The Tesla VP shared several key aspects of the delivery, from the fact that there was no driver in the Model Y to the vehicle reaching over 70 mph as it drove to its owner. 

“For the first time in history, the vehicle was delivered to the owner by itself. There was no driver or remote control throughout the journey, and the maximum speed reached 115 kilometers per hour, and it arrived safely at the customer’s door. This is a brand new Model Y. Tesla always surpasses imagination with disruptive innovation. A new era, exciting!” Tao wrote in her post.

In his response, the Xiaomi CEO acknowledged Tesla’s incredible feat. “Tesla is indeed amazing, leading the industry trends in many areas, especially FSD. We still have to continue learning!” he wrote.

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Xiaomi’s Recent Tesla Competitor

The Xiaomi CEO’s comments show that Tesla’s projects and leadership garner a lot of respect in the global electric vehicle sector. While Tesla and Elon Musk tend to be media punching bags in the United States and Europe, the company and its CEO seem to be taken very seriously in China. This was despite China being the world’s most competitive electric vehicle market.

Xiaomi itself has become one of Tesla’s strongest rivals in China, with its first car, the SU7, bringing the fight to the Tesla Model 3. Its most recent vehicle, the YU7, could very well be the Model Y’s most legitimate rival yet, as it is more affordable, bigger, and more feature-laden than Tesla’s best-selling crossover. The YU7 has garnered quite a lot of attention, with Xiaomi receiving 200,000 firm orders for the vehicle within the first three minutes of its launch.

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Tesla silences FSD critics by posting full video of Model Y delivering itself to customer

When Elon Musk posted that the first Tesla had delivered itself to its owner, critics were quick to question his statement.

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Credit: Tesla/X

It is no secret that Tesla still has ardent critics today, many of whom remain convinced that the company and its leadership are lying about Full Self-Driving (FSD) and its capabilities. It was then no surprise that when Elon Musk announced that the first Tesla had successfully delivered itself to its owner, critics were quick to question the CEO’s statement.

Videos of the all-electric crossover’s solo drive to its owner soon silenced Tesla critics and their claims.

Tesla Posts FSD Video Proof—Twice

While Musk’s post on X about a Tesla delivering itself to a consumer was a notable update, his claims were not accompanied by any video. This was taken by some Tesla critics as a hint that the CEO’s claims were false, and that the feat probably did not happen. Musk, for his part, noted that Tesla would soon be posting a video of the self-driving car’s drive to its owner.

The electric vehicle community did not have to wait very long. Tesla later posted a video of its first autonomous vehicle delivery ever on X, much to the shock of social media users. As could be seen in the video, a Tesla Model Y was able to travel about 30 minutes on its own, from the end of Giga Texas’ production line to the home of its owner, several miles away. Tesla even posted the vehicle’s full 30-minute drive on its official X account later on. 

Critics Are Still Skeptical, But It’s Cope at this Point

Of course, Tesla skeptics remained unconvinced that the feat was legitimate, with some pointing out that the Model Y customer seems to have had an X account for years but never posted, at least until his car was delivered. Others also claimed that the whole setup seemed suspicious since the Model Y looked like it had manufacturer plates as it navigated Austin’s streets.

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These concerns, however, do not seem like very strong arguments, especially at this point. Based on the evidence, it seems like Tesla really has figured out autonomous driving, and its cars are now able to operate safely on real-world roads on their own. Many have also become silent in their criticisms of Tesla’s FSD feat, especially after the company posted the full video of the Model Y’s autonomous drive. Overall, Tesla critics may remain doubtful about the company and Musk’s claims, but these concerns seem to have become forced at best.

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Ford CEO favors Waymo’s LiDAR approach over Tesla’s vision-only self-driving

Farley stated that Waymo’s LiDAR-based approach made “more sense.”

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Credit: Jim Farley/X

Ford CEO Jim Farley shared some skepticism about Tesla’s camera-only approach to self-driving during a recent appearance at the Aspen Ideas Festival. When asked to compare Waymo and Tesla’s autonomous driving systems, Farley stated that Waymo’s LiDAR-based approach made “more sense,” citing safety, consumer trust, and the limitations of camera-based models.

Waymo’s LiDAR vs. Tesla’s Vision-Only Approach

Farley was speaking with author Walter Isaacson when he made his comments about Tesla and Waymo’s self-driving systems. As they were conversing about autonomous cars, Isaacson asked Farley which approach to self-driving he preferred.

“To us, Waymo,” Farley said, though he also stated that both Tesla and Waymo have “ made a lot of of progress” on self-driving, as noted in a Fortune report. He also confirmed that he has had conversations about the matter with Tesla CEO Elon Musk. Despite this, he said that Ford still considers LiDAR as a pivotal part of autonomous driving. 

“When you have a brand like Ford, when there’s a new technology, you have to be really careful. We really believe that LiDAR is mission critical… Where the camera will be completely blinded, the LiDAR system will see exactly what’s in front of you,” the Ford CEO stated. 

Tesla and Ford’s self-driving plans

Tesla recently launched a limited Robotaxi service in Austin, which uses autonomous cars with safety monitors in the front passenger seat. While controversial, Musk has maintained that Tesla’s vision-only approach will ultimately prove safer and more cost-effective in the long term. Tesla seems to be making headway towards this goal, with Musk stating recently that the first Model Y has been delivered autonomously to a customer in Austin.

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Ford, for his part, is not pursuing its own fully autonomous, urban-driving system anymore. Instead, the company is focusing on “high-speed, eyes-off” experiences like BlueCruise. Ford does plan to partner with a company that has achieved true autonomous driving in the future, as soon as the technology is available.

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