BYD's net profit rose 100% to $1.3 billion for the first quarter, while Tesla's slumped more than 70% in the same period.

Chinese auto giant BYD continued to outpace Tesla in the first quarter, reporting a doubling in net profit on robust growth in its electric-vehicle business.

BYD Co.’s net income in the first quarter jumped to 9.15 billion yuan ($1.3 billion), overtaking Tesla Inc. on another key metric and signaling a robust start to the year for China’s no. 1 selling car brand.