China's biggest automaker often pays suppliers with an electronic IOU. Some suppliers wait months before the notes can be cashed in.
Electric momentum surges in June as NEVs claim over half of China's car sales, intensifying the fight for dominance among global and local automakers.
China's Chery (CHERY.UL) and BYD improperly claimed a combined $53 million in government subsidies for eco-friendly vehicles sold in the five years to 2020, accounting for nearly 60% of improper claims, an industry ministry audit found.
As EV adoption in China accelerates, the race to build faster, smarter and more accessible charging networks is heating up.
China's BYD is poised to start assembling electric vehicles at a new factory in Brazil as early as this month, a top executive said, reducing imports as tariffs start to rise in its largest foreign market.
Chinese electric vehicle maker BYD's Fangchengbao brand is offering a limited-time 20,000 yuan ($2,790.33) discount for the Huawei Qiankun Advanced Driving System package, Fangchengbao said in a social media post on Wednesday.
I recommend buying BYD shares due to its unique vertical integration, cost advantages, and resilience, which drive strong competitiveness and growth. BYD outpaces peers like Tesla in EV deliveries and revenue growth, while maintaining robust margins and returns, highlighting its operational excellence. The stock trades at a significant discount to its historical valuation, offering a 39% upside potential as the market recognizes its strengths.
BYD: The EV Consolidation Is Here - May The Best House Win
Chinese electric-vehicle makers post strong growth ahead of the release of Tesla's second-quarter deliveries.
BYD has become the world's largest EV maker and now ranks third globally in overall auto market share. Its success stems from deep vertical integration and engineering ingenuity, enabling it to produce nearly all key components in-house, from batteries to chips and motors. Cost leadership is BYD's core competitive edge, allowing it to offer aggressive pricing while steadily improving operating margins from 4% in 2021 to 7% TTM.
Chinese automaker BYD will invest 32 billion forints ($94 million) in a new plant in the northern Hungarian town of Komarom, tripling its annual capacity to 1,250 electric buses and trucks, Hungarian Foreign Minister Peter Szijjarto said.
BYD Co (HKG:1211, LSE:0HKY, OTCQX:BYDDY), a Chinese electric vehicle maker, has slowed production in recent months by reducing shifts at its factories, according to a Reuters report. The company has cancelled night shifts and reduced output by at least a third of its capacity at some factories in China, sources told the publication.