BYD posts 72.2 percent fall in first-half profit as Beijing cuts subsidies

BEIJING (Reuters) - China's BYD Co Ltd , backed by U.S. investor Warren Buffett, posted a 72.2 percent fall in first-half profit on Wednesday, after Beijing in early 2018 reined in subsidies and other policy support for green energy cars. The Shenzhen-based electric car maker, whose products include battery electric and plug-in hybrid vehicles, posted a net profit of 479 million yuan (54.30 million pounds), down from 1.72 billion yuan a year earlier. BYD sold 75,800 new energy vehicles between..