The EV market has been abuzz with news about BYD. The company, backed by Warren Buffett's Berkshire Hathaway, has been competing fiercely with the likes of Tesla and Nio, even managing to record impressive delivery numbers. However, Berkshire Hathaway has trimmed its stake in BYD amidst rising trade tensions over Chinese EVs. BYD shares have been on a ride, facing hits from both the EU's new tariffs and an oversaturated market displaying aggressive price wars. Yet, they also experienced boosts from lesser-than-anticipated tariffs and the announcement of a new stock buyback plan. Furthermore, BYD is pursuing expansion in the global market, considering setting up an additional plant in Europe, and has launched a factory in Thailand. Meanwhile, analysts stay largely bullish on BYD, despite a slowdown in their Q1 profit growth.
Onto specifics, BYD outperformed Tesla as the world's largest EV seller but faced a dip in shares after missing earnings expectations amidst ongoing price wars. As BYD shares soared, Buffett paused selling. Also in focus is BYD's innovative plug-in HybridTechnology that has seen them lead the Chinese EV market. Yet, amidst high competition, one central question remains: has BYD already peaked?
BYD Stocks News Analytics from Tue, 17 Oct 2023 07:00:00 GMT to Sun, 07 Jul 2024 17:05:07 GMT - Rating 3 - Innovation 5 - Information 7 - Rumor -5