HONG KONG—Chinese battery and car maker BYD Co. said its first-half profit plunged 89%, hurt by intensified competition and the end of government subsidies for car buyers.

BYD said Monday that its net profit fell to 275.4 million yuan ($43.1 million) from 2.42 billion yuan a year earlier.

Revenue fell 11% to 22.54 billion yuan.

Source:wsj