BYD, the Chinese electric vehicle (EV) giant and Tesla's main rival has recorded a portfolio - enhancing rally in its stocks resulting from its breakthrough in EV charging technology. The company claims its new technology can fully charge EVs in
five minutes, causing its shares to soar to a record high. Amid the rise in
BYD stocks, Tesla's Shares have reportedly declined by
40%, marking a significant boost for BYD in the EV market competition. Some analysts have downgraded Tesla to a “sell” rating after the substantial surge in BYD’s stocks and their decisive technological advancement. BYD’s stocks further gained momentum after announcing its expansion in Europe with forthcoming manufacturing plants in Türkiye and Hungary, strategically positioning the company as a fierce global competitor in the electric vehicle market. Moreover, being backed by
Warren Buffet, the reputation and confidence in BYD’s future prospects have further heightened. The uniqueness of BYD’s fast-charge technology has certainly grabbed the spotlight, outshining other EV players and leaving a significant mark in the industry.
BYD Stocks News Analytics from Mon, 29 Apr 2024 11:02:23 GMT to Sat, 22 Mar 2025 16:23:16 GMT -
Rating 9
- Innovation 8
- Information 9
- Rumor -2
