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's first-quarter profit leapt 100.4% from a year earlier, the fastest pace in nearly two years, as the Chinese electric vehicle giant extends its lead in its competitive home market after launching a smart EV price war.

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.