Últimas noticias sobre BYD (OTC:BYDDF) Bolsa

Founded in 1995, BYD is a leading Chinese manufacturer in the design, development, and production of new energy vehicles, or NEVs. In March 2022, the firm discontinued production of internal combustion engine, or ICE, vehicles. Its products primarily target the growing midpriced mass-market segment in China's passenger vehicle market. The company sold about 3 million passenger NEVs in 2023, accounting for 33% of the Chinese passenger NEV market. Besides automobile production, the company is also engaged in handset components and assembly services, as well as the rechargeable battery and photovoltaics business. After more than 25 years of development, the company has established over 30 industrial parks worldwide.

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BYD Co Ltd

BYD Company Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>), the world&#8217;s leading electric vehicle manufacturer for three consecutive years, and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rival announced a significant capital raise through a placement of new H shares to fund its ambitious global expansion plans and research initiatives.
What Happened: The Chinese EV giant entered into a placement agreement on Mar. 3 to issue 129.8 million new H shares at HK$335.2 ($43.58) per share, according to a company announcement. The placement, representing approximately 4.46% of BYD&#8217;s total issued shares, is expected to generate net proceeds of approximately HK$43.38 billion ($5.64 billion).
The placement price represents a 7.8% discount to Monday&#8217;s closing price of HK$363.6 on the Hong Kong Stock Exchange.
Goldman Sachs, UBS, and CITIC Securities will serve as placing agents and capital markets intermediaries, while CMB International Capital will act as lead managers for the transaction.
&#8220;The company will continue to invest in research and development in the field of intelligentization to seize the critical opportunities in the next stage of new energy automobile industry,&#8221; BYD stated in the announcement. The company plans to use the proceeds to fund R&amp;D, expand overseas operations, supplement working capital, and for general corporate purposes.
See Also: <a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">Markets Tank After Trump Confirms More Tariffs: Here&#8217;s What Wall Street Is Saying</a>
Why It Matters: BYD has accelerated its international expansion while maintaining dominance in China. The company has ranked first globally in new energy vehicle sales for three consecutive years and has established multiple brands including BYD, Fangchengbao, Denza, and Yangwang to target different market segments from <a href="https://in.benzinga.com/25/03/44072164/tesla-rival-byd-more-than-doubles-passenger-vehicle-sales-in-february-thriples-production">mass-market to luxury vehicles</a>.
The placement is subject to regulatory approvals, including listing permission from the Hong Kong Stock Exchange. BYD&#8217;s chairman Wang Chuan-fu, who owns a substantial stake in the company, has agreed to a 90-day lock-up period following the share issuance.
BYD has emphasized its commitment to advancing vehicle intelligence, introducing strategies like &#8220;Full Vehicle Intelligence&#8221; and &#8220;Intelligent Driving for All&#8221; while equipping all its models with advanced autonomous driving systems.
Price Action: BYD shares traded on the Hong Kong Stock Exchange declined, 7.21% to HK$337.40 ($43.39) as of 10:32 am local time. 
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Asia

Tesla Rival BYD Raises $5.64 Billion Through Share Placement, Wants To Use Funds For Global Domination

U.S. President Donald Trump has announced his intention to impose a 25% tariff on auto imports, alongside chips and&nbsp;pharmaceuticals, causing a stir in international trade.
What Happened: Trump disclosed on Tuesday his plan to implement auto tariffs &#8220;in the neighborhood of 25%&#8221;. These tariffs are anticipated to take effect as early as April 2, following a report from his cabinet members outlining options for import duties, according to a&nbsp;Reuters report&nbsp;today. 
The President also announced that sectoral tariffs on pharmaceuticals and semiconductor chips would start at &#8220;25% or higher&#8221; and rise substantially during the course of a year. He did not specify a date for announcing those duties, stating that he wanted to allow drug and chip manufacturers time to establish U.S. factories and avoid tariffs.
Trump also declared that he anticipated some of the world&#8217;s largest companies would announce new investments in the U.S. within the next few weeks.
Following this announcement, Asian stocks retreated after a five-day rally due to increasing trade tensions and geopolitical uncertainty. The MSCI Asia Pacific Index dipped slightly, driven by declines in stocks from Hong Kong and Japan, particularly Japanese automakers like Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) and Honda Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>). However, semiconductor stocks rose in China.
Meanwhile, Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Chinese rivals NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), and BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) ended mixed on Wednesday. 
SEE ALSO:<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43805107/vivek-ramaswamy-foresees-bitcoin-as-a-more-common-corporate-treasury-holding-as-era-of-easy-money-ends"> Vivek Ramaswamy Foresees Bitcoin As A &#8216;More Common&#8217; Corporate Treasury Holding As Era Of Easy Money Ends</a>
Why It Matters: Trump has consistently expressed his dissatisfaction with what he perceives as the unfair treatment of U.S. automotive exports in international markets. A 25% auto import tariff would heavily impact the global auto industry, which is already facing uncertainty due to Trump&#8217;s tariff policies. Notably, Trump, during his first term, threatened to impose a similar 25% car tariff but ultimately refrained from doing so.
Last week, Trump was considering imposing a tariff of up to <a href="https://www.benzinga.com/25/02/43660030/trump-tariff-threats-put-pressure-on-taiwan-semiconductor-could-push-advanced-packaging-capacity-to-us">100% on Taiwanese semiconductors </a>to make the U.S. self-reliant. On this, Stephen Ezell,&nbsp; vice president for global innovation policy at the&nbsp;Information Technology and Innovation Foundation (ITIF) told CNA, &#8220;It would have a very significant and very deleterious impact on the business models of companies like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corp.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) that rely on TSMC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) (for their chip manufacture.&#8221;
Previously, Kevin O&#8217;Leary, a Shark Tank investor, voiced his frustration over Canada&#8217;s trade situation with the U.S. suggesting that <a href="https://www.benzinga.com/startups/25/02/43729940/trumps-tariffs-could-raise-taxes-by-1-trillion-kevin-oleary-calls-it-the-beginning-of-a-negotiation">Trump&#8217;s tariffs could raise taxes by $1 trillion</a>. These developments underscore the potential economic implications of Trump&#8217;s tariff policies.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Announces 25% Tariff On Auto Imports, Chips And Pharmaceuticals, Shaking Global Trade: Nvidia, Apple, TSMC And Others In Focus

Chinese technology stocks extended gains Tuesday, as investors continued to react to President Xi Jinping&#8216;s supportive stance toward the private sector demonstrated at Monday&#8217;s <a href="https://www.benzinga.com/markets/asia/25/02/43761193/xi-jinping-and-jack-mas-upcoming-meeting-a-clear-message-of-beijings-support-stock-soars-in-hong-kong-ahead-of-earnings">high-level business symposium</a>.
What Happened: By 11:59 a.m. Hong Kong time, the Hang Seng Index had surged 2.5% to 23,080, and mainland China&#8217;s CSI 300 Index had advanced 0.40% to 3,963. Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BABAF#OTC">BABAF</a>) surged 4.34% to HKD 127.50 ($16.39), while Xiaomi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>) climbed 5.87% to HKD 47.80 ($6.14).
Tencent Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) rose 3.42% to HKD 510.50 ($65.62), as JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) added 0.95% to HKD 158.60 ($158.60) and Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) gained 1.06% to HKD 90.80 ($11.67).
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43771666/bitcoin-dogecoin-weak-ethereum-rebounds-amid-muted-investor-sentiment-eth-moving-to-cold-wallets-at-shocking-pace-a-positive-for-price-action-in-the-long-term">Bitcoin, Dogecoin Weak, Ethereum Rebounds Amid Muted Investor Sentiment: ETH Moving To Cold Wallets At &#8216;Shocking Pace&#8217; A Positive For Price Action In The Long-Term</a>
Why It Matters: The market enthusiasm follows Xi&#8217;s Monday meeting with prominent business leaders, including Alibaba founder Jack Ma&#8216;s first major public appearance with top leadership since Beijing&#8217;s 2020 tech crackdown. 
The gathering, which included executives from Xiaomi, Huawei, and BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>), comes amid escalating U.S.-China tensions, with recent retaliatory tariffs and export controls on critical minerals <a href="https://www.benzinga.com/markets/asia/25/02/43761193/xi-jinping-and-jack-mas-upcoming-meeting-a-clear-message-of-beijings-support-stock-soars-in-hong-kong-ahead-of-earnings">affecting both nations</a>.
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Xi Jinping's Supportive Appearance Sparks Chinese Tech Rally For Second Day: Alibaba, Xiaomi Surge Over 4% On Hong Kong Exchange

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares are trading lower Tuesday after competitor BYD Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) announced plans to include <a href="https://www.benzinga.com/25/02/43620349/tesla-still-on-track-to-launch-autonomous-ride-hailing-in-austin-by-june-says-elon-musk">self-driving technology in its vehicles</a>.
What To Know: At a China-based launch event late Monday, BYD founder and chairman Wang Chuanfu announced that advanced smart driving will become a standard feature on BYD cars, according to <a href="https://www.cnbc.com/2025/02/11/byd-rolls-out-driver-assist-tech-for-evs-with-deepseeks-ai-help.html">CNBC</a>.
BYD previously took a more cautious approach to autonomous vehicles, but now appears to be leaning into the technology. Tesla shares traded lower on the news as the Elon Musk-led company is seen as one of the leaders in autonomous driving technology. It&#8217;s worth noting that BYD <a href="https://www.benzinga.com/25/01/42780142/chinese-player-byd-overtakes-tesla-yet-again-as-worlds-biggest-ev-seller-in-q4">overtook Tesla</a> as the world's largest battery electric vehicle seller in the fourth quarter. 
At the event on Monday, BYD said it will release the &#8220;DiPilot&#8221; assisted driving system across its entire vehicle lineup. The company&#8217;s low-cost vehicle priced at 69,800 yuan ($9,555) will include the assisted driving system making the company the first automaker in China to offer self-driving technology for a vehicle priced below 70,000 yuan. 
BYD also announced that it will integrate AI capabilities from Chinese startup DeepSeek, who reportedly developed an open-source LLM in a couple of months at a much lower cost than competitors. The China-based automaker expects the self-driving technology to improve safety and the AI implementation to help improve the technology over time. 
Check This Out: <a href="https://www.benzinga.com/markets/equities/25/02/43615191/byds-gods-eye-and-huaweis-autonomous-driving-progress-spark-concerns-for-tesla-ross-gerber-points-out-all-use-lidar#google_vignette">BYD&#8217;s &#8216;God&#8217;s Eye&#8217; And Huawei&#8217;s Autonomous Driving Progress Spark Concerns For Tesla: Ross Gerber Points Out, &#8216;All Use LIDAR&#8217;</a>
The report indicates that BYD launched more than 20 models with its new driver-assistance technology on Monday. 
Meanwhile, Tesla on Monday announced that it&#8217;s <a href="https://www.benzinga.com/25/02/43620349/tesla-still-on-track-to-launch-autonomous-ride-hailing-in-austin-by-june-says-elon-musk">&#8220;still on track&#8221;</a> to launch autonomous ride-hailing services in Austin in June. Musk said in a post on <a href="https://x.com/elonmusk/status/1889006561541882170?ref_src=twsrc%5Etfw">X</a> that the EV maker remains on track to roll out the offering to &#8220;many cities&#8221; across the U.S. later this year. 
&#8220;The threshold is achieving safety far in excess of the average human driver &#8230; Ultimately autonomous,&#8221; Musk said. 
Tesla&#8217;s Full-Self Driving has not yet been approved in China. Musk previously said it could be available as soon as the end of 2024. On an <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">earnings call</a> last month, the Tesla chief said the delays were due to local restrictions that make it difficult to quickly develop a compliant version of the system.
&#8220;2025 will be a seminal year in Tesla&#8217;s history as FSD (Supervised) continues to rapidly improve with the aim of ultimately exceeding human levels of safety,&#8221; the company said in the release.
TSLA Price Action: <a href="http://benzinga.com/quote/tsla">Tesla shares</a> were down 5.60% at $331.17 at the time of publication Tuesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: courtesy of Tesla.

Global

Movers

Tesla Stock Is Tumbling Tuesday: What's Driving The Action?

Shares of automotive lidar technology provider Hesai Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>) are<a href="https://www.benzinga.com/movers"> trading higher on Tuesday</a>.
The company has entered into an enhanced collaboration with Chinese EV maker BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>), with plans to supply lidar for <a href="https://www.benzinga.com/pressreleases/25/02/n43617334/hesai-and-byd-supercharge-partnership-10-lidar-equipped-models-to-enter-mass-production-in-2025">more than 10 of BYD's models</a>.
These vehicles are slated for mass production in 2025, highlighting the growing role of lidar technology in the evolution of advanced driver assistance systems (ADAS) within the automotive sector.
In 2024, BYD surpassed its domestic rivals by <a href="https://www.benzinga.com/25/02/43427393/tesla-rival-byd-marks-475-growth-in-january-passenger-vehicle-sales-driven-by-popularity-of-plug-in-hybrid-evs">selling more than 4 million</a> vehicles featuring intelligent driving technology.
The company also announced that every model would be equipped with <a href="https://www.benzinga.com/tech/25/02/43617347/xpeng-geely-shares-fall-after-byd-launches-advanced-driver-assistance-features-on-car-priced-below-10000">&#8220;God&#8217;s Eye,&#8221; its next-generation ADAS</a>, providing advanced safety and driver-assistance features to more customers. 
Related Read: <a href="https://www.benzinga.com/news/25/02/43593007/rivian-commercial-van-now-available-for-fleets-nationwide-in-us">Rivian Commercial Van Now Available For Fleets Nationwide In US</a>
Lidar technology will be vital for these systems, especially for vehicles using navigation on autopilot (NOA) for both urban and highway driving.
In 2024, lidar installations in vehicles exceeded 1.5 million units in China, more than doubling the figure from 2023. Also, Hesai became the first lidar maker to ship over 100,000 units in a single month in December 2024.
Hesai anticipates surpassing 2 million units in annual production capacity by 2025. The company has secured more than 100 design wins with 22 automotive OEMs, including well-known brands like Chery, Great Wall Motors, and Changan.
Hesai&#8217;s newest product, the ATX lidar, is scheduled for mass production in the first quarter of 2025. This lidar system is aimed at improving assisted driving capabilities across a broad range of vehicles.
Price Action: Hesai shares are trading higher by 8.78% at $18.59 at the last check Tuesday.
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Image: Shutterstock

General

HSAI

Hesai's Lidar Takes On Bigger Role In BYD's 'God's Eye' Advanced Driver Assistance

Chinese state-owned car manufacturers Dongfeng Motor Group and Chongqing Changan Automobile are contemplating a merger that could surpass EV giant BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDYY#OTC">BYDYY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) in terms of market dominance.
What Happened: On Monday, both Dongfeng and Changan revealed in exchange filings that their controlling shareholders are considering asset deals that could change their ownership structures <a href="https://www.scmp.com/business/china-business/article/3298066/state-owned-chinese-carmakers-dongfeng-changan-likely-combine-eclipsing-byd">reported</a> the South China Morning Post. The specifics of these potential deals were not disclosed.
Loyal Wealth Management&#8217;s Fund Manager in&nbsp;Shanghai, Ivan Li, suggested that &#8220;the announcements hint at a possible&nbsp;merger of the state-backed parents,&nbsp;although they did not explicitly confirm it.&#8221; He also noted that the Chinese government has a vested interest in promoting consolidation in the automotive sector due to the high level of competition.
In 2024, Dongfeng sold 2.48 million vehicles, while Changan sold 2.68 million, delivering a total of 5.16 million vehicles in sales, compared to BYD&#8217;s sales of 4.27 million electric vehicles. 
SEE ALSO: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43558633/tesla-stock-stumbles-but-musks-10-trillion-ai-bet-is-in-motion">Tesla Stock Stumbles, But Musk&#8217;s $10 Trillion AI Bet Is In Motion</a>
Why It Matters: This potential merger comes at a time when Chinese automakers are aggressively expanding their operations. Last week,&nbsp;<a href="https://www.benzinga.com/markets/25/02/43527039/teslas-chinese-rival-byd-to-hire-20000-more-workers-in-zhengzhou-plans-major-expansion-to-meet-rising-ev-demand">BYD announced plans</a>&nbsp;to hire an additional 20,000 workers in Zhengzhou to boost production capacity. Similarly, Changan unveiled its "Dubhe Plan 2.0," promising to launch 35 intelligent vehicle models in the next three years.
As&nbsp;<a href="https://cnevpost.com/2025/02/10/dongfeng-changan-hint-at-merger/">reported</a>, the proposed merger between Dongfeng and Changan could result in one of the world&#8217;s largest auto groups. This consolidation could significantly alter the competitive landscape of China&#8217;s auto industry and have far-reaching implications for the global automotive market. A newly formed entity overseeing both Dongfeng Motor and Changan Automobile would become China's top carmaker by sales, surpassing BYD, the world's leading EV manufacturer.
Meanwhile, BYD outshined Tesla in terms of EV registrations in January in the UK.  Society of Motor Manufacturers and Traders (SMMT) reported that while Elon Musk&#8216;s Tesla saw a 7.79% decline in registered EVs, BYD reported a 551% surge in its EV registrations for January.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

BYDYY

Tesla's Chinese Rival BYD May Lose Market Dominance As China's Dongfeng And Changan Mull Merger: Report

Chinese electric vehicle (EV) manufacturer, BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>), has announced plans to hire an additional 20,000 workers in Zhengzhou in the first quarter, as it seeks to increase production capacity.
What Happened: BYD is gearing up for a significant workforce expansion in Zhengzhou, focusing on areas such as research and development (R&amp;D) and manufacturing, reported Reuters on Thursday. The government-run Henan Daily originally published the report, stating that the hiring surge is part of BYD&#8217;s strategy to boost production capacity at its Zhengzhou facility.
The Zhengzhou production base, situated&nbsp;in&nbsp;China&#8217;s central Henan province, currently employs approximately 60,000 workers. The facility witnessed a substantial increase in production last year, with 545,000 vehicles rolling off the assembly line, marking a 169.8% increase.
The new hires will strengthen BYD&#8217;s workforce as the company continues to expand its operations and production capabilities, aligning with the growing demand for electric vehicles.
SEE ALSO: <a href="https://www.benzinga.com/markets/25/01/43418977/byds-chinese-workers-at-brazilian-factory-signed-contracts-with-potential-labor-law-breaches-report">BYD&#8217;s Chinese Workers At Brazilian Factory Signed Contracts With Potential Labor Law Breaches: Report</a>
Why It Matters: This move by BYD comes on the heels of a series of significant developments for the company. In January, BYD reported a&nbsp;<a href="https://www.benzinga.com/25/02/43427393/tesla-rival-byd-marks-475-growth-in-january-passenger-vehicle-sales-driven-by-popularity-of-plug-in-hybrid-evs">47.5% growth</a>&nbsp;in new energy passenger vehicle sales, driven by the popularity of its plug-in hybrid EVs. Additionally, the company&nbsp;<a href="https://www.benzinga.com/tech/25/02/43520687/byd-overtakes-tesla-in-uk-after-elon-musk-led-ev-makers-new-vehicle-registrations-drop-in-january">overtook Tesla</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) in new vehicle registrations in the UK in January, further solidifying its position in the global EV market.
Moreover, BYD is also expanding its overseas manufacturing footprint, with plans to open a new EV plant in Indonesia with a capacity to produce 150,000 vehicles annually by the end of 2025, as reported by&nbsp;Electrek. This expansion aligns with BYD&#8217;s strategy to meet the growing global demand for EVs and maintain its competitive edge in the market. Eagles Zhao, BYD's president director in Indonesia said,&nbsp;"Every single progression of our local manufacturing is quite smooth and also on the track. We will keep our commitment, which is by end-2025.&#8221;
Citi Research has named BYD as the top EV stock pick for 2025. It expects that the Chinese EV maker&#8217;s new product launches between mid- and late February 2025, the broadening of its pricing strategy, and the rollout of its ADAS technology, the debut of its advanced BEV platform will lead to a surge in order intake. Citi Research also indicated that BYD is strategically positioned to handle potential challenges in the EV market, including the possibility of a price war amid modified government subsidies.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/tech/25/02/43518998/tesla-on-hiring-spree-as-it-gears-to-start-production-of-optimus-robots-for-its-own-factories-my-team-is-turning-tesla-bot-into-a-reality">Tesla On Hiring Spree As It Gears To Start Production Of Optimus Robots For Its Own Factories: &#8216;My Team Is Turning Tesla Bot Into A Reality&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tesla's Chinese Rival BYD To Hire 20,000 More Workers In Zhengzhou, Plans Major Expansion To Meet Rising EV Demand

Toyota Motor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) retained its position as the world&#8217;s best-selling automaker in 2024 after reporting 10.8 million sales, marking a dip of 4% from a year ago. 
What Happened: The dip in sales, the company said, was spurred by a near 20% fall in sales within its home ground of Japan. Domestic vehicle sales, it said, were affected by certification issues and suspension of production of the Prius. 
The sales numbers include those of the company&#8217;s Lexus brand as well as its subsidiaries Daihatsu and Hino. Daihatsu reported sales of 536,588 units worldwide in 2024 while Hino reported sales of 125,556 units. 
German automaker Volkswagen Group, in comparison, sold only about 9 million vehicles last year.
Toyota Trails Behind Tesla In EV Sales: Despite retaining its position as the top-selling automaker globally for five straight years, Toyota&#8217;s electrified vehicle sales amounted to just 4.5 million vehicles in 2024. Electrified vehicles refer collectively to <a href="https://www.benzinga.com/tech/25/01/42809131/toyota-overtakes-ford-gm-in-ev-sales-in-us-thanks-to-its-hybrid-vehicle-lineup">hybrid, plug-hybrid</a>, battery-powered, mild hybrid, and fuel-cell electric vehicles. 
The company sold only 139,892 battery electric vehicles or pure electric vehicles throughout the year, lower than American EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) or Chinese EV maker BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>).
Tesla delivered nearly<a href="https://www.benzinga.com/25/01/42780142/chinese-player-byd-overtakes-tesla-yet-again-as-worlds-biggest-ev-seller-in-q4"> 1.79 million BEVs in 2024</a> while BYD delivered 1.76 million pure electric vehicles. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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</ul>
Photo by josefkubes on Shutterstock

Toyota Retains Top-Selling Automaker Position While Continuing to Trail Tesla, BYD In EV Sales

Three <a href="https://www.benzinga.com/topic/chinese-ev-stocks" target="_blank" rel="noreferrer noopener">Chinese electric vehicle makers</a> contested the <a href="https://www.benzinga.com/markets/equities/24/10/41182675/tesla-byd-and-other-ev-stocks-to-watch-as-eu-votes-to-approve-tariffs-on-chinese-ev-imports" target="_blank" rel="noreferrer noopener">EU&#8217;s import duties</a> at the union&#8217;s Court of Justice. 
According to Reuters, BYD Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), Geely Automobile Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYF#OTC">GELYF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYY#OTC">GELYY</a>), and SAIC Motor (Shanghai Automotive Industry Corporation) oppose EU-<a href="https://www.benzinga.com/news/24/10/41311787/tesla-rival-byd-slams-eu-tariffs-on-chinese-evs-needs-more-positive-education-trust-is-low" target="_blank" rel="noreferrer noopener">imposed taxes</a>. BYD has a 17% tariff, Greely 18.8%, and SAIC, 35.3% (in addition to its car import duty of 10%).
After an anti-subsidy investigation, the EU imposed a tax&nbsp;on China-made EVs in October.
Also Read: <a href="https://www.benzinga.com/government/regulations/25/01/43155691/amazon-to-shut-7-quebec-fulfillment-centers-axe-around-2000-jobs" target="_blank" rel="noreferrer noopener">Amazon To Shut 7 Quebec Fulfillment Centers, Axe Around 2,000 Jobs</a>
China-based EV makers flagged the exclusion of leading EV exporter Tesla Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) from the additional tariffs.
Tesla bagged the lowest extra tariff of 7.8%.
<a target="_blank" href="https://www.benzinga.com/tech/25/01/43187706/teslas-chinese-rivals-xpeng-li-auto-nio-rise-in-premarket-trading-after-trumps-friendly-conversation-with-xi-jinping-we-have-one-very-big-power-over-chinaid-rather-not" rel="noreferrer noopener">U.S.-listed Chinese EV stocks</a>&nbsp;Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>),&nbsp;Nio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), and&nbsp;Xpeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) surged Friday after President&nbsp;Donald Trump&nbsp;hinted in an interview that he would instead not use tariffs against China.
<a href="https://www.benzinga.com/markets/25/01/43091254/teslas-chinese-rivals-li-xpeng-nio-surge-while-rivian-declines-in-pre-market-as-trump-revokes-bidens-ev-target" target="_blank" rel="noreferrer noopener">Also this week</a>, Trump repealed former President Joe Biden&#8216;s order ensuring that 50% of new vehicles sold in the U.S. by 2030 are electric. Trump also weighed ending the $7,500 federal tax credit available on EV purchases.
<a href="https://www.benzinga.com/markets/emerging-markets/24/12/42700628/chinas-ev-price-wars-hit-auto-profits-smaller-players-struggle-as-margins-shrink" target="_blank" rel="noreferrer noopener">China's car market</a>, particularly the EV sector, has faced fierce competition over the past two years, sparking a price war. Projections suggest China will lead global EV adoption by 2025, with EV sales expected to outpace traditional cars for the first time. The country will likely sell over 12 million EVs in 2025, doubling 2022 figures, while traditional car sales may fall below 11 million. Reports also reveal plans for China to issue 3 trillion yuan ($411 billion) in special treasury bonds in 2025 to boost consumption through subsidies, equipment upgrades, and investments in the EV sector.
Investors can gain exposure to stocks of companies that are domiciled in China through iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>).
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Image: Shutterstock

Government

Regulations

Legal

GELYF

GELYY

KWEB

XPEV

BYD, Geely, SAIC Contest EU's High EV Tariffs In Court

Vietnamese electric vehicle manufacturer VinFast Auto (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>) is entering India&#8217;s growing EV market with two premium SUVs, following <a href="https://www.benzinga.com/24/11/42197080/vinfast-reports-q3-loss-in-line-with-estimates-expects-to-receive-35b-injection-by-2026-end">strong third-quarter 2024 delivery growth</a> and significant financial backing from its founder.
The Nasdaq-listed company unveiled its VF6 and VF7 models at the India Auto Show in New Delhi, planning to challenge established players like Mahindra &amp; Mahindra and BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>). 
VinFast will invest $500 million over five years to build a car and battery factory in Tamil Nadu state, with an initial capacity of 50,000 units annually, expandable to 150,000, Reuters reported.
&#8220;We are turning our focus to India &#8211; our next growth frontier,&#8221; said Pham Sanh Chau, VinFast&#8217;s Asia CEO. 
The expansion comes as VinFast reported 21,912 vehicle deliveries in the third quarter of 2024, up 115% year-over-year, though with continuing losses. The company secured $3.5 billion in potential funding through 2026, including $2.1 billion in grants from CEO Pham Nhat Vuong.
Like Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), VinFast is seeking reduced import duties while its factory is under construction. Electric vehicles currently represent 2.5% of India&#8217;s 4 million annual car sales, with the government targeting 30% by 2030.
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tesla's Vietnamese Rival VinFast Enters 'Next Growth Frontier' India Amid Global Expansion Push, Plans $500 Million Investment

This week has been a rollercoaster ride in the world of electric vehicles and ride-hailing services. From&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) recalling hundreds of thousands of vehicles to&nbsp;Warren Buffett-backed&nbsp;BYD Co&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) launching an affordable EV in Australia, there&#8217;s a lot to catch up on. Let&#8217;s dive into the top stories of the week.
Tesla Recalls Over 239,000 Vehicles
Tesla is recalling 239,382 vehicles in the U.S. due to concerns about the loss of rearview camera image, according to the National Highway Traffic Safety Administration (NHTSA). The issue arises from a potential short in the computer circuit board. Tesla has released a software update to address the problem and will replace affected computers free of charge. The recall includes 2024-25 Model 3 and Model S vehicles and 2023-25 Model X and Model Y.
<a href="https://www.benzinga.com/tech/25/01/42909595/tesla-recalls-over-239000-vehicles-over-rearview-camera-image-display-issues">Read the full article here.</a>
Warren Buffett-Backed BYD Launches Affordable EV in Australia
Chinese EV company BYD, in which Warren Buffett&#8217;s Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) holds a stake, is launching Australia&#8217;s first EV with a starting price under $30,000. This move could significantly boost Australia&#8217;s EV market. Despite selling a portion of its stake, Berkshire still owns around 4.9% of BYD, representing approximately $1.8 billion in its portfolio.
<a href="https://www.benzinga.com/news/management/25/01/42901570/warren-buffett-backed-byd-launches-australias-first-ev-under-30k-how-the-move-could-strengthen-fight-against-elon-musks-tesla">Read the full article here.</a>
Ross Gerber Praises Tesla&#8217;s Cybertruck Amid California Wildfires
Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, lauded Tesla&#8217;s Cybertruck for its performance during the devastating wildfire in Los Angeles's Pacific Palisades neighborhood. Gerber shared his experience of how the vehicle navigated fallen trees and flooded roads, and its HEPA filter system protected him from smoke.
<a href="https://www.benzinga.com/markets/equities/25/01/42890496/cybertruck-was-my-hero-today-says-ross-gerber-after-teslas-truck-allowed-him-to-navigate-california-wildfires-in-safety">Read the full article here.</a>
Uber and Lyft Revamp Robotaxi Strategy
Ride-hailing giants&nbsp;Uber Technologies Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and&nbsp;Lyft Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) are revising their robotaxi ambitions. They have restructured their businesses to accommodate competitors who have cracked the code, according to the Wall Street Journal. Under the new strategy, Uber and Lyft will earn a percentage of driverless taxi bookings while maintaining the fleet.
<a href="https://www.benzinga.com/25/01/42859391/uber-and-lyft-adapt-robotaxi-strategy-to-compete-in-tesla-and-waymos-market">Read the full article here.</a>
XPeng and Volkswagen to Build Super-Fast EV Charging Network in China
Chinese EV startup&nbsp;XPeng Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) and German automaker&nbsp;Volkswagen AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) are planning to jointly build a super-fast charging network in China. The over 20,000 charging piles operated by the two companies across 420 cities in China will now be accessible to both players going forward.
<a href="https://www.benzinga.com/25/01/42807958/xpeng-volkswagen-to-jointly-build-super-fast-ev-charging-network-in-china">Read the full article here.</a>
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Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

LYFT

UBER

VWAGY

Tesla Recalls Over 239,000 Vehicles, Uber and Lyft Revamp Robotaxi Strategy, Warren Buffett-Backed BYD Launches Affordable EV And More: This Week In Mobility

Electric vehicle company BYD Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) is launching the first electric vehicle to come with a starting price under $30,000 in Australia, a move that could boost the country's <a href="https://www.benzinga.com/electric-vehicles">electric vehicle market.</a>
What Happened: Along with investing in blue-chip U.S. companies, Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) CEO Warren Buffett has recognized the investment opportunity<a href="https://www.benzinga.com/news/financing/24/12/42535041/warren-buffett-gains-exposure-to-digital-banks-in-africa-south-america-heres-how"> in emerging markets.</a>
One of Buffett's investments is owning a stake in Chinese company BYD, a global leader in electric vehicle. While Buffett has <a href="https://www.benzinga.com/markets/equities/24/06/39481191/warren-buffets-berkshire-drops-byd-stake-despite-ev-leader-seeing-record-sales">sold a portion</a> of the company's stake in BYD, Berkshire still owns around 4.9% of the company, representing around $1.8 billion in the Berkshire portfolio.
BYD could see a boost to its growth in 2025 thanks to the launch of a new version of its popular Dolphin EV in Australia.
A new stripped-down version of the Dolphin comes with a starting price of $29,900 in Australia, as <a href="https://electrek.co/2025/01/08/byd-just-launched-first-ev-priced-under-30000-australia/">reported </a>by Electrek, <a href="https://www.smh.com.au/politics/federal/chinese-giant-brings-first-ev-for-under-30-000-to-australia-20250108-p5l2vb.html">citing </a>The Sydney Morning Herald.
BYD has launched models like the Dolphin, Atto 3 and Seagull in Australia over the years and it now has the cheapest EV in the country, replacing the previous record of $30,990 by the MG4, which later raised its price to $38,000.
The lower-cost model does not include some normal Dolphin features like a sunroof, heated seats and a wireless phone charger. The new Dolphin model comes with the same battery range of 350 km (217 miles) as the other Dolphin models.
Deliveries of the new Dolphin model are set to begin in March.
You may not be a billionaire like Warren Buffett, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/25/01/42798998/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: BYD is one of the largest electric vehicle companies in the world, selling 4.27 million new energy vehicles globally, which includes electric vehicles and plug-in hybrids, in 2024. This total was up 41% year-over-year.
In Australia, BYD ranked second for 2024 EV sales and had a 14.6% year-over-year gain in units sold. Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) ranked first in 2024 with a market share of 42% of EVs in Australia, but saw its year-over-year sales decline 16.8%, as <a href="https://www.drive.com.au/news/australias-best-selling-electric-cars-2024/">reported </a>by Drive.
Other EV companies like BYD saw their sales gain 28.8% year-over-year while Tesla fell, helping to set a record in Australia for a sixth straight year. The country had 91,292 EVs sold across cars, SUVs and light commercial vehicles, up 4.7% year-over-year and representing 7.4% of all new vehicles sold in the year.
EV sales faced pressure in Australia in the second half of 2024 with an overall drop of 6.9% year-over-year, with Tesla sales falling 25.8% year-over-year and other EV models gaining 9.6% year-over-year.
Tesla had the top two selling vehicles in Australia in 2024 with the Model Y and model 3 ranking first and second respectively.
BYD had three of the top 10 selling EVs in the country with the Seal, Atto 3 and Dolphin ranking fourth, fifth and eighth respectively.
A new lower-priced Dolphin could continue to cut into Tesla's market share. The EV company has watched its market share in Australia fall from 59% in 2022 to 53% in 2023 to 42% in 2024.
The Shark, which is BYD's first pickup truck, has over 5,500 preorders placed according to the report and deliveries begin soon. BYD will also launch the new Sealion 07, which is called a Model Y competitor. The Sealion 07 starts at under $60,000, falling in similar range of the Model Y, which starts at $55,900.
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BYD photo

Management

Trading Ideas

Warren Buffett-Backed BYD Launches Australia's First EV Under $30K: How The Move Could Strengthen Fight Against Elon Musk's Tesla

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) maintains an upward stock trajectory this week after a power-packed start with the <a target="_blank" href="https://www.benzinga.com/tech/25/01/42838231/jensen-huang-unveils-3000-personal-ai-supercomputer-the-size-of-a-small-book-it-runs-the-entire-nvidia-ai-stack" rel="noreferrer noopener">Consumer Electronics Show (CES)</a>, Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;eying&nbsp;an $80 billion investment in&nbsp;developing AI data centers for 2025, and Foxconn's <a target="_blank" href="https://www.benzinga.com/25/01/42813592/ai-chip-stocks-nvidia-broadcom-amd-taiwan-semi-micron-super-micro-surge-on-monday-whats-going-on" rel="noreferrer noopener">robust quarterly results</a>.
Chief&nbsp;Jensen Huang&nbsp;<a target="_blank" href="https://www.benzinga.com//node/42838231" rel="noreferrer noopener">announced the company's</a> $3,000 desktop-sized personal AI supercomputer, Project DIGITS, powered by the GB10 Grace Blackwell&nbsp;super chip, during his CES 2025 keynote.
Huang also presented&nbsp;the new&nbsp;RTX 5000 GPU&nbsp;series, laptops featuring the RTX 50-series, and the&nbsp;Grace Blackwell NVLink 72&nbsp;system.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/42826372/intel-struggles-to-compete-with-amd-and-nvidia-in-data-centers-and-ai-chips" rel="noreferrer noopener">AMD and Nvidia Overtake Intel in Key Markets, Challenging Its Leadership</a>
Nvidia <a target="_blank" href="https://www.cnbc.com/2025/01/06/nvidia-releases-blackwell-gaming-chips-for-pcs-called-rtx-50-series-.html" rel="noreferrer noopener">told</a> CNBC that the high-end RTX 5090 chips will be able to run AI models and do computer graphics, including helping game makers integrate generative AI into their characters in games like PUBG: Battlegrounds.
The new processors will also be able to run large language models and image generation models from companies including&nbsp;Meta, Mistral, and Stability AI.
He also announced that&nbsp;Toyota&nbsp;Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) will use Nvidia&nbsp;Drive AGX Orin to enhance its <a target="_blank" href="https://www.benzinga.com/25/01/42836673/toyotas-next-gen-vehicles-to-use-nvidia-supercomputer-operating-system" rel="noreferrer noopener">automated driving capabilities</a>.
Nvidia forged a deal to provide driver-assistance chips and software for Toyota&nbsp;vehicles.
Nvidia expects its automotive vertical business to grow to ~$5 billion in fiscal 2026 from ~$4 billion in fiscal 2025.
Some of Nvidia&nbsp;Drive AGX clients include BYD Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), Lucid Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), Rivian Automotive, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), Xiaomi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>), ZEEKR Intelligent Technology Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>).
At the event, Nvidia also flagged its alliance with&nbsp;Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;on innovating open-source Llama models, which Daniel Newman of&nbsp;The Futurum Group <a target="_blank" href="https://www.benzinga.com/news/global/25/01/42836461/nvidias-ces-2025-vision-sparks-mixed-reactions-ross-gerber-hails-incredible-things-to-come-while-analysts-debate-ai-and-autonomous-driving-ambitions" rel="noreferrer noopener">expects to outperform</a> OpenAI potentially.
Huang showcased physical AI tools to train robots, leveraging simulated environments that closely mimic the real world. These tools enabled higher automation in warehouses and factories and boosted a humanoid-robot market that the company said could be worth $38 billion in decades, the Wall Street Journal <a target="_blank" href="https://www.wsj.com/tech/ai/nvidia-ceo-pitches-robotics-cars-as-growth-areas-to-consumer-electronics-audience-68905f2d?mod=tech_lead_pos1" rel="noreferrer noopener">reports</a>.
Huang told the WSJ that the ChatGPT moment for general robotics is just around the corner.
Nvidia product director Justin Walker <a target="_blank" href="https://www.cnbc.com/2025/01/06/nvidia-releases-blackwell-gaming-chips-for-pcs-called-rtx-50-series-.html" rel="noreferrer noopener">told</a> CNBC that despite being an AI company and a gaming company, the gaming side still benefits tremendously from being an AI company.
Nvidia also announced its <a target="_blank" href="https://www.benzinga.com/government/regulations/25/01/42822625/big-techs-date-with-antitrust-alphabet-meta-amazon-brace-for-legal-showdowns-in-2025" rel="noreferrer noopener">Cosmos foundation models</a>, which generate photorealistic video to train robots and self-driving cars at a more affordable cost.
Cosmos will be available on an "open license," similar to Meta's&nbsp;Llama 3 language models. Huang expects Cosmos to do the same for robotics and industrial AI as Llama 3 has done for enterprise AI, Reuters reports.
Bank of America's Vivek Arya told Reuters that he will await possible upside from Nvidia's robotics by drawing [parallels with the metaverse and autonomous cars.
Price Action: NVDA stock is up 2.20% at $152.87 premarket at the last check Tuesday.
Also Read:
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Image via Shutterstock

Nvidia Highlights AI Chips Powering PUBG, Robotics 'ChatGPT Moment,' Automotive Expansion And More At CES Event

Several exchange-traded funds, or ETFs, allow investors to track the stocks of electric vehicle manufacturers, including Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) or its China-based competitors, Nio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), XPeng (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) and BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>).
These funds allow investors to diversify their risks by owning chunks of shares in multiple EV plays rather than choosing to put all eggs in one basket. Here are three ETFs with exposure to Tesla and its rivals:
<ul>
<li>iShares Self-Driving EV and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDRV#NYSE">IDRV</a>): This fund tracks the NYSEA FactSet Global Autonomous Driving and Electric Vehicle Index. Its allocation is fairly evenly distributed among multiple auto companies. Tesla (4.11%), Li Auto (4.48%), XPeng (3.79%), BYD (4.08%) and Nio (3.99%) are among its top holdings. It charges a 0.47% expense ratio.</li>
</ul>
<ul>
<li>SPDR S&amp;P Kensho Smart Mobility ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAIL#NYSE">HAIL</a>): This ETF tracks U.S.-listed companies participating in the smart transportation sector, as well as the S&amp;P Kensho Smart Transportation Index. Major holdings include Tesla (1.53%), NIO (1.67%), Li Auto (1.8%), and XPeng (1.55%). The ETF has an expense ratio of 0.45% and about $24.62 million in assets under management (AUM) as of Jan. 2.</li>
</ul>
<ul>
<li>Global X Autonomous &amp; Electric Vehicles ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRIV#NASDAQ">DRIV</a>): This ETF's exposure covers all aspects of the EV industry. The fund has $386.76 million of net AUM as of Jan. 2, and comes with an expense ratio of 0.68%. Major automakers, including Tesla (4.86%), XPeng (1.61%) and Nio (1.18%), are a part of the fund's holdings. General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), which is committed to go all-electric soon, also enjoys a share of the fund. The ETF also offers exposure to lucrative industries like semiconductors, batteries, and software for EVs. The fund mirrors the Solactive Autonomous &amp; Electric Vehicles Index.</li>
</ul>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42792642/tesla-analysts-on-deliveries-ev-stock-could-have-stormy-weather-in-short-term-generational-set-of-growth-opportunities-long-term">Tesla Analysts On Deliveries — EV Stock Could Have &#8216;Stormy Weather&#8217; In Short Term</a>
Why It Matters: S&amp;P Global Mobility expects 15.1 million battery electric vehicles to be sold in 2025. That&#8217;s a 30% increase from 2024. 
EVs are likely to account for 16.7% of global light vehicle sales in 2025, with China leading at 29.7% market share.
Tesla reported <a href="https://www.benzinga.com/25/01/42782683/tesla-hits-record-ev-sales-in-china-despite-global-dip">record EV sales</a> in December. For the year, the EV-maker's China sales reached 657,000 vehicles—an 8.8% on-year increase. These numbers reveal that China remains critical for Tesla, contributing around 40% of its global deliveries in Q4.
Tesla's deepening foothold in China has also spurred a <a href="https://www.benzinga.com/25/01/42761825/ev-price-war-heats-up-as-chinese-automakers-extend-subsidies">competitive battle of sorts involving prices</a>. The Austin, Texas-based company made the smart move of putting a 10,000-yuan discount on Model Y loans through December. This prompted Nio and Li Auto to follow suit with zero-interest loans and cash subsidies. 
Nio's December sales spiked 72.9% year-over-year while Li Auto posted a 16.2% increase.
BYD, for its part, offered up to 11.5% discounts and reaped the rewards in the form of a 50% year-over-year jump in December sales of new energy passenger vehicles.
XPeng, meanwhile, <a href="https://www.benzinga.com/news/global/24/12/42737888/tesla-rival-xpeng-to-hire-over-6000-workers-in-2025-expecting-increased-competition-report">plans to onboard over 6,000 employees</a> in 2025, Reuters reported. Anticipating intensified pricing pressures starting January, the company is also strategizing global expansion schemes, aiming to tap over 60 international markets by 2025.
This competition brings us to a broader trend: China expects to sell over 12 million EVs in 2025, doubling 2022 figures, and Tesla increasingly seeking a bigger piece of the pie.
Analyst Daniel Ives of Wedbush remains optimistic on Tesla. He predicts 20%-30% delivery growth in 2025 and maintains an "Outperform" rating with a $515 price target.
Read Next: 
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</ul>
Image: Shutterstock

Sector ETFs

Emerging Market ETFs

ETFs

DRIV

HAIL

IDRV

Global EV Sales Poised To Grow In 2025: 3 ETFs In Focus

Chinese EV giant BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) overtook Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) yet again as the world&#8217;s biggest battery electric vehicle (BEV) seller in the fourth quarter of 2024. 
What Happened: Tesla reported on Thursday that it delivered <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on">495,570 BEVs in the three months</a> through the end of December, significantly lower than the 595,413 BEVs <a href="https://www.benzinga.com/25/01/42758760/tesla-rival-byd-marks-50-growth-in-december-passenger-vehicle-sales-likely-to-trump-tesla-in-q4-bev-sales-yet-again">sold by BYD</a> in the period.
Though BYD managed to trump Tesla in the fourth quarter, the American EV giant delivered 1,789,226 BEVs through 2024, retaining its position as the bestselling pure EV brand for the year. BYD, meanwhile, managed to deliver only 1,764,992 BEVs in the twelve months, or 24,234 units less than Tesla. 
Why It Matters: BYD first took over Tesla as the world&#8217;s largest BEV seller in the last quarter of 2023. Tesla took back the title in the first quarter of 2024 and <a href="https://www.benzinga.com/24/12/42680542/tesla-or-byd-which-ev-giant-will-sell-more-battery-electric-vehicles-in-q4">retained it for three consecutive quarters</a>. 
2024 marks the first year that Tesla&#8217;s annual deliveries have fallen (1.1%) as compared to the previous year. In 2023, Tesla delivered 1,808,581 vehicles around the globe. To mark a growth over last year, the company had to deliver at least 514,926 vehicles in the three months through the end of December.&nbsp;However, the company could not even breach the 500,000 target. 
BYD&#8217;s 2024 BEV sales, meanwhile, marked a growth of 12% year-on-year, according to a previous report.
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Photo via Shutterstock
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</ul>

Tesla Overtaken by BYD Again: Chinese Player Becomes World's Biggest EV Seller In Q4

Chinese EV giant&nbsp;BYD Co Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) said on Wednesday that the company sold 509,440 new energy passenger vehicles in December, marking a jump of nearly 50% from last year, thanks to a major jump in plug-in hybrid passenger vehicle sales.
Sales Numbers For December:&nbsp;Battery electric passenger vehicle sales of the Chinese player rose to 207,734 in December, marking a rise of about 9% from the corresponding month of last year.
Plug-in hybrid passenger vehicle sales in the period rose about 102% to 301,706 units.
The company also sold 5,369 commercial vehicles in December, including 1,375 buses.
Production Numbers: BYD produced 460,719 passenger vehicles in December, including 189,759 battery-electric vehicles and 270,960 plug-in hybrids.
BYD stopped making combustion engine vehicles in March 2022 to focus on electric vehicles. The company makes both battery electric vehicles and plug-in hybrids, collectively referred to as new energy vehicles. 
Why It Matters: BYD overtook its American rival Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) in the fourth quarter of 2023 as the world's biggest seller of battery-electric vehicles, selling 526,409 battery-electric vehicles. Tesla, however, took back the title in the first quarter of this year and has been holding on to it since.
BYD delivered 595,413 battery electric vehicles in the last quarter of 2024, <a href="https://www.benzinga.com/24/12/42680542/tesla-or-byd-which-ev-giant-will-sell-more-battery-electric-vehicles-in-q4">likely beating Tesla</a>. According to Tesla researcher Troy Teslike, the company is expected to report just 501,000 vehicle deliveries in the quarter.
Tesla is expected to officially report its fourth quarter deliveries<a href="https://www.benzinga.com/trading-ideas/previews/24/12/42745852/tesla-q4-delivery-preview-will-2024-stock-gains-hold-as-growth-slows"> after the market opens on Jan. 2.</a> 
For the full year 2023, Tesla delivered 1,808,581 vehicles around the globe. To mark a growth over last year, the company has to deliver at least 514,926 vehicles in the three months through the end of December. Tesla has not delivered over 500,000 vehicles in a quarter to date, making this an ambitious target.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42758540/us-listed-chinese-ev-startups-clock-delivery-growth-in-december-li-auto-tops-the-chart-mona-m03-spurs-xpeng-nios-onvo-breaches-10000-monthly-delivery-milestone">US-Listed Chinese EV Startups Clock Delivery Growth In December: Li Auto Tops Charts, Mona M03 Spurs XPeng, Nio&#8217;s Onvo Breaches 10,000 Monthly Delivery Milestone</a></li>
</ul>
Photo courtesy: Shutterstock

Tesla Rival BYD Marks 50% Growth In December Passenger Vehicle Sales, Likely To Trump Tesla In Q4 BEV Sales Yet Again

Nio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), the Chinese EV maker, has been making headlines — but not for the right reasons. The stock just flashed a technical Death Cross, a bearish indicator where the 50-day moving average crosses below the 200-day moving average. Let's discuss whether there's hope for a bullish reversal.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="810" height="550" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27073727/NIO-Death-Cross.jpg" alt="" class="wp-image-709161" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27073727/NIO-Death-Cross.jpg 810w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27073727/NIO-Death-Cross-300x204.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27073727/NIO-Death-Cross-768x521.jpg 768w" sizes="(max-width: 810px) 100vw, 810px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122724&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
<h1 class="wp-block-heading">Nio Stock Chart: Death Cross In Motion</h1>
Nio's stock, at $4.69, is lagging behind its 50-day moving average of $4.83 and 200-day average of $4.83 as well. Other indicators, like a negative MACD and a middling RSI of 51.05, suggest the market hasn't decided whether to stay bearish or gamble on a rebound.
Adding to the uncertainty, Nio's performance has been mixed. Nio stock is down 44% YTD, despite a modest 7% gain in the past month. A stagnating price trend coupled with slight selling pressure is fueling skepticism among technical analysts.
Read Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42681555/nio-announces-repurchase-opportunity-for-convertible-senior-notes-due-2027-firefly-app-gains-traction-in-china">NIO Announces Repurchase Opportunity For Convertible Senior Notes Due 2027; Firefly App Gains Traction In China</a>
<h1 class="wp-block-heading">Onvo L60: A Tesla Challenger?</h1>
Amid the market gloom, Nio's product cycle offers a glimmer of hope. The company's<a href="https://www.benzinga.com/news/global/24/12/42697306/onvo-sells-20000-evs-in-100-days-of-launch-gearing-to-be-nios-best-selling-brand"> Onvo L60 SUV</a>, a sleek competitor to Tesla's Model Y, is garnering attention for its 900-volt EV platform and competitive pricing. 
In the third week of December, Nio's insurance registrations rose 23%, supported by 2,090 Onvo L60 units.
CEO William Li remains bullish, forecasting a strong product cycle starting in 2025. "We've started monetizing investments in new technologies and vehicle lineups," Li <a href="https://technode.com/2024/12/24/nio-ceo-says-company-prepared-for-market-upheaval-in-2025/">said</a> during Nio Day, adding that innovation will drive future growth.
<h1 class="wp-block-heading">China's EV Race: Tough Competition</h1>
The Chinese EV market remains fiercely competitive. While Nio <a href="https://carnewschina.com/2024/12/24/china-ev-registrations-in-w51-nio-5400-xiaomi-6000-tesla-17600-byd-87700/#google_vignette">registered</a> 5,400 vehicles in the third week of December, it trailed Xiaomi, Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and BYD Co (OTCPK: BYDDF), which reported 6,000, 17,600, and 87,700 registrations, respectively.
The challenge? Nio needs more than a competitive SUV to outpace its rivals. Tesla and BYD dominate with scale and brand power, leaving Nio to carve a niche in affordability and innovation.
<h1 class="wp-block-heading">Is A Bullish Reversal In Sight?</h1>
Nio's Death Cross is a warning, but its innovative product lineup and CEO optimism could signal potential for a bullish reversal. 
The stock may remain volatile in the short term, but for risk-tolerant investors, 2025's product cycle could be worth the wait. Bullish or bearish? This EV underdog isn't out of the race just yet.
Read Next: 
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</ul>

Technicals

Nio's Death Cross Meets Tesla Competition: Could Onvo L60 SUV Spark A Bullish Comeback?

Acute competition posed a bummer for <a target="_blank" href="https://www.benzinga.com/topic/chinese-ev-makers" rel="noreferrer noopener">China&#8217;s automotive industry</a> profit margins in 2024, taking a toll on weaker electric vehicle makers like Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) and Geely Automobile Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYF#OTC">GELYF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYY#OTC">GELYY</a>)-backed Jiyue and&nbsp;Human Horizons Group Inc.
Car industry margins in China averaged 4.4% from January through November, down from 5.0% in 2023, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-12-27/chinese-carmakers-profits-squeezed-further-as-rivalry-ramps-up?srnd=phx-industries&amp;sref=TBDibEcD" rel="noreferrer noopener">cited</a> data from China&#8217;s Passenger Car Association on Friday.
The margins still trailed the average profit margin of 6.1% of downstream industrial enterprises, Bloomberg cites PCA.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/24/12/42686698/meta-settles-israeli-job-ad-discrimination-case-for-1-million-report" rel="noreferrer noopener">Meta Settles Israeli Job Ad Discrimination Case For $1 Million: Report</a>
The EV industry revenue for the first 11 months of 2024 rose by 3% to 9.5 trillion yuan ($1.3 trillion), Bloomberg cites PCA. Profits declined by 7.3% to 413.2 billion yuan.
Bloomberg cites&nbsp;Cui Dongshu, the PCA secretary general, as saying that the industry must slash costs and boost efficiency due to the dwindling margins.
China&#8217;s car market, especially its EV sector, has experienced intense rivalry for at least the last two years, prompting a price war.
BYD Co&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) consolidation wiped out the smaller players.
Reportedly, China is on <a target="_blank" href="https://www.benzinga.com/24/12/42690974/whats-going-on-with-chinese-ev-stocks-nio-li-auto-xpeng-thursday" rel="noreferrer noopener">track to lead</a> global EV adoption by 2025, with electric vehicle sales projected to surpass traditional cars for the first time. The country will likely sell over 12 million EVs in 2025, doubling 2022 figures, while traditional car sales may drop below 11 million.
China&#8217;s EV industry progress stems from advancements in domestic technology, securing a global supply chain for lithium and cobalt, and leveraging its large-scale manufacturing to make EVs more affordable for consumers.
<a target="_blank" href="https://www.benzinga.com/24/12/42671739/chinese-stocks-surge-on-stimulus-plans-to-counter-us-tariff-risks" rel="noreferrer noopener">Also this week</a>, reports indicated China eying&nbsp;3 trillion yuan ($411 billion) in special treasury bonds in 2025 to drive consumption through subsidies, equipment upgrades, funding investments in electric vehicle sectors, and more.
Price Actions: At the last check on Friday, NIO is down 0.43% at $4.68. LI is up 1.70%, XPEV is down 3.70%, and ZK is up 0.46%.
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</ul>

Emerging Markets

China's EV Price Wars Hit Auto Profits, Smaller Players Struggle as Margins Shrink

Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) saw a 6.2% <a href="https://global.toyota/en/company/profile/production-sales-figures/202411.html" target="_blank" rel="noreferrer noopener">drop</a> in global production in November, <a href="https://www.benzinga.com/24/12/42321484/fords-mustang-mach-e-sales-skyrocket-383-in-november-amid-growing-ev-momentum" target="_blank" rel="noreferrer noopener">with a total of 869,230 vehicles manufactured</a>.
Production within Japan fell by 9.3% year-over-year, amounting to 285,761 units. Outside of Japan, Toyota's production saw a smaller decline of 4.6%, reaching 583,469 units.
The company's U.S. output was particularly hard-hit, dropping 11.8%, though recovery is underway. Production of the Grand Highlander and Lexus TX SUV models resumed in late October after a four-month pause, Reuters reports.
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In China, production fell by 1.6%, a slight improvement compared to the 9% drop in the previous month. Toyota saw stronger sales of its Granvia and Sienna minivans, as well as the electric sedan bZ3, developed in partnership with BYD Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>).
In other news, Toyota recently made headlines for a reported $1 million donation to President-elect Donald Trump's inauguration, The Guardian <a href="https://www.theguardian.com/us-news/2024/dec/24/toyota-trump-inauguration-donation" target="_blank" rel="noreferrer noopener">reports</a>.
The news came a day after Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) announced similar donations. Both of these U.S. automakers also pledged to <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42562982/toyota-shares-are-on-the-rise-whats-going-on" target="_blank" rel="noreferrer noopener">provide vehicles for the inauguration</a>.
Additionally, Toyota's North American division received $4.5 million in federal funding from the U.S. Department of Energy's ARPA-E program. This funding supports a project aimed at enhancing the circular supply chain for electric vehicle (EV) batteries.
In partnership with Oak Ridge National Laboratory, the National Renewable Energy Laboratory, and Baker Hughes' Waygate Technologies, Toyota is working on improving battery disassembly, component classification, and recycling to reduce waste and emissions.
Price Action: TM shares closed 0.54% higher to $181.43 on Tuesday, shares fell 0.24% afterhours.
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Toyota's Global Output Slips 6.2%, While Company Donates $1 Million to Trump's Inaugural Fund

BYD Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), the Chinese new energy vehicle (NEV) giant, has reportedly expanded its global footprint by entering the Ethiopian market.
On December 21, the company partnered with Ethiopian distributor Moenco, a subsidiary of the Inchcape Group, to launch its brand in the East African country, CnEV Post <a target="_blank" href="https://cnevpost.com/2024/12/24/byd-enters-ethiopia/" rel="noreferrer noopener">reports</a>.
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The brand unveiling, held in Addis Ababa, introduced five of BYD&#8217;s battery electric vehicle (BEV) models, including the compact Seagull hatchback and the Tang SUV, marking a significant step in BYD&#8217;s efforts to expand its presence in Africa.
This move comes on the heels of BYD&#8217;s recent entry into<a target="_blank" href="https://www.benzinga.com/markets/equities/24/12/42485764/tesla-rival-byd-enters-omani-market-launches-five-ev-models-as-part-of-gulf-expansion-report" rel="noreferrer noopener"> the Omani automotive market</a>. Earlier this month, the company celebrated a brand launch in Muscat, where it also opened three local stores.
In Oman, BYD introduced five models, including the Han, Yuan Plus, Seal, Song Plus DM-i, and Qin Plus DM-i, all aligning with the country&#8217;s push for sustainable development under Vision 2040.
However, BYD&#8217;s international expansion has not been without challenges. Brazilian authorities recently halted the construction of a BYD plant in Salvador, Bahia, after rescuing 163 workers living <a target="_blank" href="https://www.benzinga.com/government/regulations/24/12/42667814/brazil-authorities-halt-work-at-byd-factory-site-after-workers-found-in-slavery-like-conditions" rel="noreferrer noopener">in what they described as &#8220;slavery-like&#8221; conditions.</a>
Authorities shut down the workers&#8217; lodgings and issued a statement in cooperation with BYD and construction contractor Jinjiang Construction Brazil Ltd. While BYD continues to promote green mobility, this setback highlights the ongoing challenges the company faces in its global growth strategy.
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