The latest developments showcase
BYD's continuous race with Tesla as each aims to dominate the electric vehicle (EV) market. BYD's aggressive
global expansion is marked by the carmaker contemplating setting up a second Europe factory. The company is also setting the course as it reportedly strikes a battery deal with NIO. However, the
Chinese price war seems to heavily impact BYD's shares. Despite surpassing Tesla as the largest EV seller, shares shrunk due to falling short in earnings and a concurrent price war. Bullish analysts uphold their faith in BYD despite a slowdown in Q1 profit growth, while the company confronts concerns about its future growth status after a $12 billion selloff. A Chinese Tesla competitor, backed by Warren Buffett, is buying back its own stocks to halt a market slump.
Warren Buffett's bet on BYD seems to make more sense than Berkshire investing in Tesla. Additionally, Goldman Sachs remains upbeat and sets a high price target on BYD stock.
BYD's success over Tesla has come at a cost after a lower-than-expected profit estimate drove shares down.
BYD Stocks News Analytics from Tue, 17 Oct 2023 07:00:00 GMT to Sun, 12 May 2024 21:00:00 GMT -
Rating 5
- Innovation 0
- Information 7
- Rumor -3
