Chinese auto conglomerate Build Your Dreams (BYD) has begun previewing its Q1 2025 financial results. Although its numbers have dipped compared to Q4 2024, the automaker’s net income continues to soar year over year. BYD expects that number to be up at least 86% but could be much higher.
BYD’s growth and expansion have become a weekly news topic here at Electrek, with no signs of the Chinese automaker slowing down, even amidst growing trade tensions between global superpowers and tariffs sure to stunt everyone’s growth.
The Chinese auto conglomerate has become one of the most innovative and fast-growing companies in its respective segment, expanding its market reach throughout Asia and into new markets with sales and localized production around Europe, South America, and (maybe) North America.
2024 marked a record year for BYD’s financial results, achieving over $100 billion in sales, which has continued so far this year. Last week, we reported that through the first three months of 2025, BYD had sold over one million New Energy Vehicles (NEVs), up 60% from the 626,263 sold in Q1 2024.
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With Q1 2025 now complete, BYD has begun teasing its financial results for the past three months and we expect to see more tremendous year-over-year growth from the automaker.
BYD Yangwang U7 ultra-luxury electric sedan (Source: Yangwang)
BYD’s financial results promise continued YoY growth
CnEVPost pointed out that BYD made a stock exchange announcement in China earlier today, sharing an encouraging tidbit about its Q1 2025 financial results. The automaker expects its quarterly net income to land between RMB 8.5 billion ($1.16 billion) and RMB 10 billion ($1.37 billion). That translates to year-over-year growth between 86.04% and 18.88% compared to Q1 2024.
BYD’s Q1 2025 numbers are not as strong as a quarter ago, but that is common for all automakers, as the first three months of the year are usually a slower period for sales. Still, the first three months of 2025 marked BYD’s highest first-quarter performance in NEV sales to date.
As a result, BYD expects its basic earnings per share in Q1 2025 to land between RMB 2.91 ($0.40) and RMB 3.42 ($0.47) compared to RMB 1.57 ($0.21) in Q1 2024. It’s important to note that these initial numbers are preliminary calculations, and we will get a better idea of where BYD’s Q1 growth sits when it releases its full financial results.
Still, BYD’s Q1 2025 NEV sales grew, bolstering its reign as the global leader in the segment (note that this includes PHEV sales). As we reported last week, it appears BYD is continuing to grow globally, and its upcoming financial results could provide evidence that it will finally overtake Tesla’s global BEV market share at some point this year.
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If you’ve ever wondered what happens when you combine a fruit cart, a cargo bike, and a Piaggio Ape all in one vehicle, now you’ve got your answer. I submit, for your approval, this week’s feature for the Awesomely Weird Alibaba Electric Vehicle of the Week column – and it’s a beautiful doozie.
Feast your eyes on this salad slinging, coleslaw cruising, tuber taxiing produce chariot!
I think this electric vegetable trike might finally scratch the itch long felt by many of my readers. It seems every time I cover an electric trike, even the really cool ones, I always get commenters poo-poo-ing it for having two wheels in the rear instead of two wheels in the front. Well, here you go, folks!
Designed with two front wheels for maximum stability, this trike keeps your cucumbers in check through every corner. Because trust me, you don’t want to hit a pothole and suddenly be juggling peaches like you’re in Cirque du Soleil: Farmers Market Edition.
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To avoid the extra cost of designing a linked steering system for a pair of front wheels, the engineers who brought this salad shuttle to life simply side-stepped that complexity altogether by steering the entire fixed front end. I’ve got articulating electric tractors that steer like this, and so if it works for a several-ton work machine, it should work for a couple hundred pounds of cargo bike.
Featuring a giant cargo bed up front with four cascading fruit baskets set up for roadside sales, this cargo bike is something of a blank slate. Sure, you could monetize grandma’s vegetable garden, or you could fill it with your own ideas and concoctions. Our exceedingly talented graphics wizard sees it as the perfect coffee and pastry e-bike for my new startup, The Handlebarista, and I’m not one to argue. Basically, the sky is the limit with a blank slate bike like this!
Sure, the quality doesn’t quite match something like a fancy Tern cargo bike. The rim brakes aren’t exactly confidence-inspiring, but at least there are three of them. And if they should all give out, or just not quite slow you down enough to avoid that quickly approaching brick wall, then at least you’ve got a couple hundred pounds of tomatoes as a tasty crumple zone.
The electrical system does seem a bit underpowered. With a 36V battery and a 250W motor, I don’t know if one-third of a horsepower is enough to haul a full load to the local farmer’s market. But I guess if the weight is a bit much for the little motor, you could always do some snacking along the way. On the other hand, all the pictures seem to show a non-electric version. So if this cart is presumably mobile on pedal power alone, then that extra motor assist, however small, is going to feel like a very welcome guest.
The $950 price is presumably for the electric version, since that’s what’s in the title of the listing, though I wouldn’t get too excited just yet. I’ve bought a LOT of stuff on Alibaba, including many electric vehicles, and the too-good-to-be-true price is always exactly that. In my experience, you can multiply the Alibaba price by 3-4x to get the actual landed price for things like these. Even so, $3,000-$4,000 wouldn’t be a terrible price, considering a lot of electric trikes stateside already cost that much and don’t even come with a quad-set of vegetable baskets on board!
I should also put my normal caveat in here about not actually buying one of these. Please, please don’t try to buy one of these awesome cargo e-trikes. This is a silly, tongue-in-cheek weekend column where I scour the ever-entertaining underbelly of China’s massive e-commerce site Alibaba in search of fun, quirky, and just plain awesomely weird electric vehicles. While I’ve successfully bought several fun things on the platform, I’ve also gotten scammed more than once, so this is not for the timid or the tight-budgeted among us.
That isn’t to say that some of my more stubborn readers haven’t followed in my footsteps before, ignoring my advice and setting out on their own wild journey. But please don’t be the one who risks it all and gets nothing in return. Don’t say I didn’t warn you; this is the warning.
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The OPEC logo is displayed on a mobile phone screen in front of a computer screen displaying OPEC icons in Ankara, Turkey, on June 25, 2024.
Anadolu | Anadolu | Getty Images
Eight oil-producing nations of the OPEC+ alliance agreed on Saturday to increase their collective crude production by 548,000 barrels per day, as they continue to unwind a set of voluntary supply cuts.
This subset of the alliance — comprising heavyweight producers Russia and Saudi Arabia, alongside Algeria, Iraq, Kazakhstan, Kuwait, Oman and the United Arab Emirates — met digitally earlier in the day. They had been expected to increase their output by a smaller 411,000 barrels per day.
In a statement, the OPEC Secretariat attributed the countries’ decision to raise August daily output by 548,000 barrels to “a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories.”
The eight producers have been implementing two sets of voluntary production cuts outside of the broader OPEC+ coalition’s formal policy.
One, totaling 1.66 million barrels per day, stays in effect until the end of next year.
Under the second strategy, the countries reduced their production by an additional 2.2 million barrels per day until the end of the first quarter.
They initially set out to boost their production by 137,000 barrels per day every month until September 2026, but only sustained that pace in April. The group then tripled the hike to 411,000 barrels per day in each of May, June, and July — and is further accelerating the pace of their increases in August.
Oil prices were briefly boosted in recent weeks by the seasonal summer spike in demand and the 12-day war between Israel and Iran, which threatened both Tehran’s supplies and raised concerns over potential disruptions of supplies transported through the key Strait of Hormuz.
At the end of the Friday session, oil futures settled at $68.30 per barrel for the September-expiration Ice Brent contract and at $66.50 per barrel for front month-August Nymex U.S. West Texas Intermediate crude.
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Trump’s Big Beautiful bill becoming law and going after EVs and solar, Tesla, Ford, and GM EV sales, Electrek Formula Sun, and more
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