It's been buoyed by strong sales and cost cutting.
The firm also credited a rapid rise in overseas sales, and growing advantages from its sheer size.
BYD overtook Tesla in the final quarter of last year to become the biggest maker of EVs.
The company handed over more than half a million vehicles during the period.
Now it says scale is helping it to control costs in the supply chain.
In a filing to the Shenzhen Stock Exchange, BYD said all that would drive profits up to as much $4.3 billion.
If confirmed, the latest profit jump would see it far outpace Tesla, which posted a 19.4% growth in net profit.
Dramatic as they are though, the figures would actually mark a slowdown for BYD.
In 2022 its profits surged by a blistering 446%.
Now the firm is pressing ahead with ambitious overseas growth plans that have rivals worried.
Earlier this month, Tesla boss Elon Musk warned that Chinese carmakers like BYD would "demolish" global rivals if trade barriers aren't erected.
