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BYD (OTC:BYDDY) Stock, Option Chain

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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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Tesla Inc. (NASDAQ: TSLA) is reportedly experiencing a delay in obtaining approval for its autonomous driving technology in China, a setback attributed to the ongoing trade war between the US and China.

Tesla&#39;s Self-Driving Ambitions In China At Risk As US-China Trade War Heats Up: &#39;It&#39;s A Bit Of A Quandary,&#39; Says Elon Musk

BYD Offers Discounts Of Up To 11.5% On Select EVs As Year End Nears

BYD has outlined plans to commence &#34;demonstration use&#34; of all-solid-state batteries by 2027, with a broader adoption anticipated post-2030.

Tesla Rival BYD Sets 2027 Target For Mass Production Of Solid-State Batteries: &#39;Will Be Mainly Used In High-End Models&#39;

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BABAF

A potential meeting between Chinese President Xi Jinping and Alibaba Group Holding Ltd. co-founder Jack Ma this week may fuel further gains in China&#39;s technology stocks, which have been on a blistering rally.

Xi Jinping Meets Tech Giants As Chinese Markets Rally On Private Sector Support (UPDATED)

BYD Co Ltd

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is reportedly experiencing a delay in obtaining&nbsp;approval for its autonomous driving&nbsp;technology in China, a setback attributed to the ongoing trade war between the US and China.
What Happened: Chinese authorities might leverage the approval of Tesla&#8217;s self-driving license as a negotiation chip in trade talks with the U.S., a strategic maneuver believed to be the primary reason for the delay, reported the <a href="https://www.ft.com/content/b7867bf0-4a8f-4f60-90c5-f961e5bfea12">Financial Times</a> on Monday.
Despite earlier indications of Tesla receiving a license for extensive training of&nbsp;its Full Self-Driving Beta in&nbsp;the second quarter of 2025, the company has now been informed of an indefinite timeline. Tesla&#8217;s attempts to launch its FSD system in the Chinese market have been ongoing, with last year&#8217;s reports hinting at an impending deal.
In Tesla&#8217;s recent earnings call, CEO Elon Musk voiced his concerns about the FSD prospects in China, pointing to data transfer restrictions between the two nations. "They won't currently allow us to transfer training video outside of China. And then the U.S. government won't let us do training in China. It's a bit of a quandary," stated Musk. As a result, Tesla is instead training its system using publicly available videos of Chinese streets and simulation tools.
Despite these hurdles, Musk remains optimistic, stating that Tesla aims to achieve&nbsp;unsupervised self-driving in China by&nbsp;the end of the next year.
SEE MORE: <a href="https://www.benzinga.com/markets/asia/25/02/43772586/xi-jinpings-supportive-business-stance-sparks-rally-for-second-day-alibaba-xiaomi-surge-over-4-on-hong-kong-exchange">Xi Jinping&#8217;s Supportive Appearance Sparks Chinese Tech Rally For Second Day: Alibaba, Xiaomi Surge Over 4% On Hong Kong Exchange</a>
Why It Matters: Tesla&#8217;s challenges in China are not new. In 2022, the <a href="https://www.benzinga.com/news/25/02/43705074/tesla-cars-were-barred-for-two-months-from-an-entire-chinese-district-as-beijing-considers-them-us-spies">Chinese government began barring Tesla</a> cars from certain areas over national security concerns. The ban was extended to the Beidaihe district for two months during the Communist Party&#8217;s annual summer retreat. It also faced a ban near military complexes during President Xi Jinping's visit to Chengdu.
Meanwhile, the landscape for autonomous cars in China has been heating up, with Tesla rivals BYD Co. Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) and Huawei&nbsp;making advancements. BYD rolled out its &#8220;God's Eye&#8221; advanced driver assistance system across all its models, including the budget-friendly Seagull hatchback, starting at around $9,600.
Moreover, Ross Gerber, CEO of&nbsp;Gerber Kawasaki Wealth and Investment Management highlighted that <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">all these competitors "use LIDAR" technology</a>, compared to Tesla's camera-only system. 
Despite these hurdles, Tesla has continued its operations in China. The company announced on Monday that it had started production of its <a href="https://www.benzinga.com/25/02/43772576/tesla-to-start-delivering-shanghai-made-refreshed-model-ys-next-week">refreshed Model Y at its Shanghai gigafactory</a>, with deliveries expected to start soon. The ongoing trade tensions and the delay in FSD approval highlight the complexities Tesla faces in the Chinese market.
Tesla stock dropped more than 16% in a month to close at $355.84 on Friday. 
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<li>READ MORE: <a href="https://www.benzinga.com/25/02/43771853/elon-musk-didnt-always-get-along-with-his-fatherbut-last-year-he-bought-him-a-luxury-car-that-wasnt-a-tesla">Elon Musk Has A Frosty Relationship With Dad Errol But Last Year Gifted Him A Luxury Car That Was Surprisingly Not A Tesla — Here&#8217;s Why</a></li>
</ul>
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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.

Tesla's Self-Driving Ambitions In China At Risk As US-China Trade War Heats Up: 'It's A Bit Of A Quandary,' Says Elon Musk

Chinese EV giant and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rival, BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) has outlined plans to commence &#8220;demonstration use&#8221; of all-solid-state batteries by 2027, with a broader adoption anticipated post-2030.
What Happened: As per a report by&nbsp;<a href="https://cnevpost.com/2025/02/15/byd-demonstration-use-all-solid-state-batteries-2027/">CnEVPost</a>, Sun Huajun, the Chief Technology Officer of BYD&#8217;s battery business, revealed the timeline at the China All-Solid-State Battery Innovation and Development Summit Forum. He also mentioned that the industry is making similar strides.
BYD, the world&#8217;s largest new energy vehicle (NEV) manufacturer and the second-largest producer of power batteries, has been working on all-solid-state batteries since 2013. By 2024, the company had begun assessing the feasibility of industrializing these batteries, with trial production already underway for solid-state battery cells featuring single-cell capacities of 20 Ah and 60 Ah.
Sun stated that BYD&#8217;s choice of materials for solid-state batteries is also based on sulfide electrolytes, primarily due to cost and process stability considerations.
Sun stated that cost wouldn&#8217;t pose a long-term issue for solid-state batteries. He attributed the current high cost of sulfide electrolytes used in BYD&#8217;s solid-state batteries to their low volume.&nbsp;&#8220;It doesn&#8217;t really make a&nbsp;lot of sense to talk&nbsp;about cost in the absence&nbsp;of volume,&#8221; he said. Sun anticipates that as the adoption of solid-state ternary batteries grows, their cost will become comparable to that of liquid ternary batteries.
Meanwhile, Lian Yubo, BYD's Chief Scientist and Dean of the Automotive Engineering Research Institute clarified, "Solid-state batteries will be mainly used in high-end models, empowering each other with lithium iron phosphate batteries, and used in vehicles of different levels."
SEE ALSO: <a href="https://www.benzinga.com/news/25/02/43629182/hesais-lidar-takes-bigger-role-byds-gods-eye-advanced-driver-assistance">Hesai&#8217;s Lidar Takes On Bigger Role In BYD&#8217;s &#8216;God&#8217;s Eye&#8217; Advanced Driver Assistance</a>
Why It Matters: All-solid-state batteries are considered the future of electric vehicles (EVs) due to their potential for higher energy density, faster charging, and improved safety compared to current lithium-ion batteries. BYD&#8217;s timeline for the demonstration and subsequent mass adoption of these batteries aligns with the industry&#8217;s progress.
The company&#8217;s ongoing efforts since 2013 to develop and industrialize all-solid-state batteries indicate its commitment to innovation and leadership in the EV market. Furthermore, Sun&#8217;s comments about the cost of solid-state batteries provide a positive outlook for their future affordability.
However, experts indicate that mass-producing solid-state batteries can be a significant challenge. "Part of the timeline issue is that you can&#8217;t use the same manufacturing plants and processes for SSBs,&#8221; explained Liz Najman, the Director of market insights at battery health and data start-up&nbsp;Recurrent. "You need to build everything new, which requires money and time,&#8221; he added.
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<li>READ MORE: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43726337/tsla-stock-has-plunged-over-25-from-its-december-peak-and-this-analyst-says-it-has-not-bottomed-yet-one-more-move-down-which-could-happen-over-the">TSLA Stock Has Plunged Over 25% From Its December Peak, And This Analyst Says It Has Not &#8216;Bottomed&#8217; Yet: &#8216;One More Move Down, Which Could Happen Over The…&#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 Rival BYD Sets 2027 Target For Mass Production Of Solid-State Batteries: 'Will Be Mainly Used In High-End Models'

Editor&#8217;s Note: This article has been updated to include the latest information on Xi Jinping&#8217;s meeting with technology leaders and associated market fluctuations.
Chinese President Xi Jinping held a rare high-level symposium with the country&#8217;s leading entrepreneurs on Monday, including 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>)&nbsp; founder Jack Ma, marking Ma&#8217;s most significant public engagement with top leadership since <a href="https://www.benzinga.com/news/20/11/18186034/alibabas-stock-falls-as-ant-group-ipo-is-suspended-in-china">Beijing&#8217;s 2020 tech crackdown</a>.
What Happened: The gathering, which included Xiaomi CEO Lei Jun, Huawei founder Ren Zhengfei, and electric vehicle maker BYD&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) Wang Chuanfu, comes as Chinese tech stocks reach their highest levels since February 2022, <a href="https://www.scmp.com/economy/china-economy/article/3298944/xi-hosts-symposium-chinas-top-entrepreneurs">reported</a> South China Morning Post.&nbsp;
Alibaba&#8217;s Hong Kong shares surged over 4% in early trading Monday before plunging at HKD 119.60 ($15.37), down 3.63%.&nbsp;
See Also:<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43756457/benzinga-bulls-and-bears-apple-nvidia-netflix-and-trader-predicts-dogecoin-surge-by-march-24"> Benzinga Bulls and Bears: Apple, Nvidia, Netflix and Trader Predicts Dogecoin Surge by March 24</a>
Why It Matters: Recent developments have provided some optimism. The emergence of <a href="https://www.benzinga.com/markets/25/02/43520950/deepseeks-ai-model-drives-surge-in-chinese-tech-stocks-closing-gap-with-us-magnificent-seven">the domestic AI model DeepSeek</a> and reports of Alibaba&#8217;s potential collaboration with Apple Inc. to bring AI features to iPhones in China by mid-2025 have fueled market enthusiasm.&nbsp;
The China Enterprises Index jumped 4.1% last Friday, with Alibaba&#8217;s Hong Kong shares gaining over 50% in the past month.
However, challenges loom as U.S.-China tensions escalate. Following Trump&#8217;s recent 10% tariff implementation on Chinese products, Beijing retaliated with similar measures and increased export controls on critical minerals.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/25/02/43756510/berkshire-hathaway-adjusts-portfolio-keeps-apple-stake-unchanged-offloads-stakes-in-bofa">Berkshire Hathaway Adjusts Portfolio, Keeps Apple Stake Unchanged, Offloads Stakes in BofA</a></li>
</ul>
Image Via Shutterstock&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has seen a notable decrease in its worldwide market share for January, according to a recent report by UBS, 
What Happened: UBS analyst Patrick Hummel revealed that Elon Musk-led EV giant&#8217;s sales in Europe fell by 51% year-over-year, tagging it the region&#8217;s &#8220;biggest loser&#8221;. The EV giant also witnessed a 15% drop in retail sales in China, while local brands continued to grow, <a href="https://www.streetinsider.com/Analyst+Comments/UBS%3A+January%3A+Very+poor+month+for+Tesla/24347540.html">reported</a> Investing.com on Friday.
Despite the global demand for EVs remaining strong, UBS analysts labeled January a &#8220;very poor month for Tesla.&#8221; The report also emphasized the growing competition in the EV market, as European EV sales saw a 33% year-over-year increase.
Chinese new energy vehicle (NEV) brands, including Xpeng (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), have been steadily increasing their market share. Xpeng, in particular, saw a remarkable 251% year-over-year surge in sales, driven by new product launches. In contrast, the U.S. market showed more stability, recording a 25% increase in EV sales compared to the previous year.
The U.S. market showed greater stability, with EV sales rising 25% year-over-year. However, despite sequential declines, overall U.S. auto inventories remained high in terms of days&#8217; supply, according to UBS.
The UBS report did not provide specific details on Tesla's performance in the region but noted that other major automakers had mixed results, with General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) rising 17%, while Ford (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) experienced declines.
UBS also highlighted the ongoing debate surrounding U.S. auto tariffs, which could have implications for global car manufacturers. The bank warned that a potential U.S. tariff on European vehicles could have a substantial impact on German automakers.
SEE ALSO: <a href="https://www.benzinga.com/25/02/43723200/billionaire-elon-musks-boring-company-to-resolve-traffic-outside-us-with-its-loop-system-but-without-a-deadline">Elon Musk&#8217;s Boring Company To Build &#8216;Dubai Loop&#8217; To Handle Upto 100,000 Passengers Per Hour, Slashing Travel Time With Electric Vehicles</a>
Why It Matters: Tesla&#8217;s market share decline comes amid increasing competition and challenges in key markets. In China, Tesla has been facing hurdles for years, <a href="https://www.benzinga.com/news/25/02/43705074/tesla-cars-were-barred-for-two-months-from-an-entire-chinese-district-as-beijing-considers-them-us-spies">with the Chinese government even banning Tesla cars</a> from certain areas over national security concerns. Furthermore, BYD&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) &#8216;God&#8217;s Eye&#8217; and Huawei&#8217;s advances in autonomous driving heighten concerns for Tesla.
Meanwhile, Tesla&#8217;s <a href="https://www.benzinga.com/25/02/43724986/uber-ceo-looks-forward-to-tesla-partnership-for-robotaxis-no-one-wants-to-compete-against-tesla-or-elon">potential for partnerships</a> remains strong. Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) CEO Dara Khosrowshahi expressed optimism about a possible partnership with Tesla for deploying autonomous vehicles on Uber's platform.
These developments underline the dynamic and competitive landscape of the global EV market, where Tesla continues to play a significant role despite recent setbacks.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/02/43718656/will-tesla-finally-enter-india-modi-musk-meeting-reportedly-focused-on-tariffs-starlink-licensing-and-spacex-collaboration">Will Tesla Finally Enter India? Modi-Musk Meeting Reportedly Focused On Tariffs, Starlink Licensing, And SpaceX</a></li>
</ul>

STLA

UBER

XPEV

Tesla's Global Market Share Shrinks In January As UBS Calls It A 'Very Poor Month' For Elon Musk's EV Giant

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.
Read Next: 
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Image: Shutterstock

General

BYDDF

HSAI

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

NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares are trading lower in the premarket session on Tuesday despite a series of positive updates for the <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">electric vehicle maker.</a>
The company&#8217;s founder, chairman, and CEO, William Li, reportedly emphasized key strategic goals during an internal meeting as NIO prepares for 2025, <a target="_blank" href="https://cnevpost.com/2025/02/11/nio-ceo-highlights-importance-of-sales-volume-cost-reduction-in-internal-meeting/" rel="noreferrer noopener">reports </a>CnEV Post.
Li outlined three core visions for the company: doubling sales, achieving single-quarter profitability by the fourth quarter of 2025, and continuing to enhance systematic capabilities.
This meeting marked the company&#8217;s first quarterly gathering after celebrating its 10th anniversary.
Meanwhile, shares of other Chinese EV makers like XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) also fell on Tuesday.
The dip comes after Chinese EV giant&nbsp;BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) launched smart driving features <a target="_blank" 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" rel="noreferrer noopener">on vehicles priced as low as&nbsp;$10,000.</a>
BYD on Monday rolled out an advanced driver-assist system called &#8220;God&#8217;s Eye&#8221; that it intends to install on a range of cars, including its low-cost Seagull hatchback priced under $10,000, for no added cost. The company began sales of 21 models equipped with the technology soon after the event.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/25/02/43614807/byd-teams-up-with-deepseek-to-outpace-tesla-in-budget-friendly-ai-driven-tech-for-chinese-cars-amid-regulatory-roadblocks" rel="noreferrer noopener">BYD Teams Up With DeepSeek To Outpace Tesla In Budget-Friendly AI-Driven Tech For Chinese Cars Amid Regulatory Roadblocks</a>
Meanwhile, NIO&#8217;s performance during the <a target="_blank" href="https://www.benzinga.com/25/02/43560265/whats-going-on-with-nio-stock-today" rel="noreferrer noopener">Chinese New Year holiday also stands out.</a> The company saw a surge in demand for its battery swap services, with 136,720 services recorded on February 3 alone.
This marked a peak in demand following a strong performance on January 25, with 119,848 services in a single day.
Additionally, NIO reported a 37.9% year-over-year increase in vehicle deliveries for January 2025, reaching 13,863 units.
Adding to the optimism, NIO is expected to be included in a major Hong Kong stock index after the Hang Seng Indexes Company Limited&#8217;s semi-annual review on February 21. This potential inclusion could attract passive investment inflows, providing a boost to the company&#8217;s stock price when the changes take effect on March 10.
Price Action: NIO shares are trading lower by 2.19% to $4.235 premarket at last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43608052/traders-rethink-interest-rate-path-as-inflation-concerns-resume-feds-rate-cutting-cycle-is-over-economist-says" target="_blank" rel="noreferrer noopener">Traders Rethink Interest-Rate Path As Inflation Concerns Resume: &#8216;Fed&#8217;s Rate-Cutting Cycle Is Over,&#8217; Economist Says</a></li>
</ul>
Photo by Sundry Photography on Shutterstock.

Movers

Media

What's Going On With Chinese EV Maker NIO Stock On Tuesday?

Hesai And BYD Partner To Provide Automotive Lidar For More Than 10 BYD Models

Shares of Chinese carmakers XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) and Geely Automobiles (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYF#OTC">GELYF</a>) fell on Tuesday after Chinese EV giant BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) launched smart driving features on vehicles priced as low as $10,000.
What Happened: BYD on Monday rolled out an advanced driver-assist system called &#8220;God&#8217;s Eye&#8221; that it intends to install on a range of cars, including its low-cost Seagull hatchback priced under $10,000, for no added cost. The company began sales of 21 models equipped with the technology soon after the event.
BYD founder Wang Chuanfu said at the event that the company sees smart driving features becoming an essential part of cars like seatbelts or airbags.
The company also said that <a href="https://www.benzinga.com/markets/25/02/43614807/byd-teams-up-with-deepseek-to-outpace-tesla-in-budget-friendly-ai-driven-tech-for-chinese-cars-amid-regulatory-roadblocks">is integrating DeepSeek&#8217;s artificial intelligence</a> into at least the most advanced version of the new driver-assistance system.
Why It Matters: Driver assistance features are usually reserved for more premium EVs. Tesla, BYD&#8217;s American rival, also charges additionally for its driver assistance technology called Full self-driving (FSD) in the U.S. FSD, however, is <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">not available in China.</a> 
Chinese EV startup Xpeng&#8217;s Hong Kong-listed shares are down 9% at HK$61.65. Its NYSE-listed shares also dropped 6.1% in pre-market trading in fear of heightened competition.
Xpeng offers advanced drive assistance features on its vehicles but not on vehicles as affordable as BYD&#8217;s Seagull hatchback. 
Hong Kong-listed shares of Geely Automobile also fell 10.3% to HK$15.9.
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/tech/25/02/43615392/rivian-to-hike-r1t-r1s-prices-in-canada-by-nearly-10-from-feb-25-amid-exchange-rate-shift">Rivian To Hike R1T, R1S Prices In Canada By Nearly 10% From Feb 25 Amid Exchange Rate Shift</a></li>
</ul>
Photo courtesy: Shutterstock

GELYF

Xpeng, Geely Shares Fall After BYD Launches Advanced Driver Assistance Features On Car Priced Below $10,000

Prominent Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investors are weighing in on the increasingly competitive autonomous driving landscape as Chinese rivals BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) and Huawei advance their driver assistance systems, challenging Tesla&#8217;s vision-only approach.
What Happened: Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, highlighted a key technical distinction in the autonomous driving race, noting on X that all major competitors &#8220;use LIDAR&#8221; technology, contrasting with Tesla&#8217;s camera-only system. 
His observation comes amid recent concerns about Tesla&#8217;s Full Self-Driving (FSD) system&#8217;s limitations, including its vulnerability to <a href="https://www.benzinga.com/markets/equities/25/01/43329365/a-day-after-elon-musk-hailed-teslas-unsupervised-fsd-ross-gerber-criticizes-ev-makers-autonomous-driving-system-doesnt-work-when-dust-or-ash-get-in-the-cameras">dust, ash, and sun glare</a>.
Gary Black, managing partner of The Future Fund LLC, suggests that autonomous driving is becoming &#8220;commoditized&#8221; rather than a winner-take-all market. &#8220;We own TSLA as the global EV leader as EV adoption soars, and we get upside from unsupervised autonomy and Optimus. But we don&#8217;t own TSLA because of any misplaced view it will take 100% share of ride sharing,&#8221; Black stated on X.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">All use LIDAR
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1888962659783217317?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/25/02/43613306/ios-1831-released-with-critical-security-fix-apple-confirms-usb-restricted-mode-vulnerability-was-actively-exploited">iOS 18.3.1 Released With Critical Security Fix: Apple Confirms USB Restricted Mode Vulnerability Was Actively Exploited</a>
Why It Matters: The debate intensifies as BYD introduces its &#8220;God&#8217;s Eye&#8221; advanced driver assistance system across its entire lineup, including its budget Seagull hatchback priced at approximately $9,600. 
Meanwhile, Huawei&#8217;s Qiankun ADS 3.2 system, demonstrated in recent reviews, has shown promising performance in complex urban environments, featuring HD map-free smart driving and omnidirectional collision avoidance capabilities.
Tesla CEO Elon Musk continues to defend the company&#8217;s vision-only approach, recently stating, &#8220;Obviously, humans drive without shooting lasers out of their eyes.&#8221; However, this stance faces scrutiny as the National Highway Traffic Safety Administration investigates 2.6 million Tesla vehicles <a href="https://www.benzinga.com/25/01/43327837/tesla-ceo-elon-musk-dismises-lidar-again-says-if-humans-drive-without-shooting-lasers-from-their-eyes-so-can-autonomous-cars">equipped with FSD technology</a>.
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOOGL

BYD's 'God's Eye' And Huawei's Autonomous Driving Progress Spark Concerns For Tesla: Ross Gerber Points Out, 'All Use LIDAR'

China&#8217;s leading automaker, BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), is outpacing Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) in the deployment of AI-powered driving technology in the Chinese market. The company has launched a new system specifically for budget vehicles.
What Happened: BYD has rolled out a new driving-assistance technology system, known as &#8220;Eyes of God&#8221; in Chinese, for its low-cost mass-market vehicles. This move comes as Tesla faces difficulties in launching its latest driver-assistance software in China due to regulatory hurdles, <a href="https://www.scmp.com/business/china-business/article/3298118/byd-add-autopilot-system-evs-gain-edge-amid-chinas-price-war">reported</a> the South China Morning Post. 
The Chinese automaker has partnered with DeepSeek to roll out driver-assist technology for its electric vehicles. This collaboration is aimed at leveraging DeepSeek&#8217;s AI capabilities to enhance BYD&#8217;s offerings
During a live-streamed launch event in China, late Monday, BYD's Founder and Chairman Wang Chuanfu stated that advanced smart driving will evolve into a standard safety feature, much like seatbelts and airbags.
BYD&#8217;s &#8220;Eyes of God&#8221; system will be integrated into all its models, including an electric compact hatchback priced at approximately $9,600, with the system included in the cost. 
Nomura analysts said, "BYD is changing its competition strategy from price cutting last year to functions' upgrade in 2025."
SEE ALSO: <a href="https://www.benzinga.com/25/02/43589901/the-potential-merger-of-chinese-carmakers-dongfeng-and-changan-likely-to-cast-a-shadow-on-tesla-rival-byd">Tesla&#8217;s Chinese Rival BYD May Lose Market Dominance As China&#8217;s Dongfeng And Changan Mull Merger: Report</a>
Why It Matters:&nbsp;The launch of BYD&#8217;s new system underscores the company&#8217;s strategic move to capitalize on the regulatory challenges faced by Tesla in China. Earlier this year, Tesla CEO Elon Musk blamed U.S. and Chinese regulations for the delay in the release of the company&#8217;s &#8220;Full-Self Driving&#8221; software. Despite Musk&#8217;s repeated claims that the software could be available in China by the end of 2024, it has not yet received approval from Beijing.
The successful deployment of the &#8220;Eyes of God&#8221; system in its mass-market vehicles signifies BYD&#8217;s commitment to making advanced driving technology accessible to a <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">broader consumer base</a>. This is in sharp contrast to Tesla&#8217;s plan to charge $8,000 for the installation of its &#8216;Full Self-Driving system&#8217; in the U.S., in addition to a $99 monthly subscription. The Elon Musk-led EV giant is likely to begin testing on the mainland later this year.
However, Brian Tycangco, an analyst at Stansberry Research, warned that the Chinese EV giant&#8217;s association with DeepSeek "increases the likelihood that BYD vehicles will face more difficulties entering Western markets like the U.S. due to national security reasons."
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

BYD Teams Up With DeepSeek To Outpace Tesla In Budget-Friendly AI-Driven Tech For Chinese Cars Amid Regulatory Roadblocks

American EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reportedly sold 63,238 China-made vehicles in January, marking a dip of 11.5% from the corresponding month of 2024.
What Happened: The numbers include Model 3 and Model Y manufactured in China and sold in the country or exported overseas. 
Last year, Tesla sold 71,447 China-manufactured vehicles in January and 93,766 in December, according to a<a href="https://cnevpost.com/2025/02/07/tesla-china-sales-incl-exports-jan-2025/"> report</a> from CnEVPost, citing data from the China Passenger Car Association (CPCA).
Possible Reasons For Drop: The drop in sales was likely because of the Chinese New Year holidays to the end of January. Last year, the holidays were in February.
Furthermore, Tesla launched a refreshed version of the Model Y SUV in January. Bloomberg reported in January that the EV maker is <a href="https://www.benzinga.com/media/25/01/42997916/tesla-to-suspend-parts-of-refreshed-model-y-lines-in-shanghai-for-3-weeks-report">planning to suspend part of the lines</a> for its refreshed Model Y in Shanghai for around three weeks over the Chinese New Year from Jan. 22 through Feb. 14 to prep the lines for ramped-up production of the new model. 
The report also said that another portion of the factory that makes the company's Model 3 sedans will be closed from Jan. 26 to Feb. 3.
Rival Performance: In comparison, Tesla rival BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) <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">sold 296,446 new energy passenger vehicles</a> in January, marking a jump of nearly 47.5% from last year, thanks to a major jump in plug-in hybrid passenger vehicle sales.
Pure passenger EV (battery electric vehicle) sales of the Chinese player rose to 125,377 in January, marking a rise of 19% from the corresponding month of last year.
Price Action: Tesla shares are down 1.5% in premarket trading as of the time of writing. The stock closed at $374.32 on Thursday, marking a drop of 1.3% year-to-date, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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>
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Photo courtesy: Shutterstock

Tesla Drops 1.5% Premarket After Sales Of China-Made EVs In January Drop 11.5% YoY

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.
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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

Chinese EV giant BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) overtook its American counterpart Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) in new vehicle registrations in January in the UK, according to recent industry data.
What Happened: According to data from the Society of Motor Manufacturers and Traders (SMMT), Tesla had 1,458 registrations in January, down from the 1,581 registered in the corresponding month of 2024. 
BYD, in comparison, had 1,614 registrations, up by 551% from last year.
Both BYD and Tesla make only electric vehicles. However, unlike Tesla which makes only battery electric vehicles, BYD also makes plug-in hybrids. 
BYD Vs. Tesla: The rivalry between Tesla and BYD is not limited to the UK market. 
The Chinese company first&nbsp;<a href="https://www.benzinga.com/news/24/01/36839203/warren-buffett-backed-byd-sees-higher-profits-for-fy23-after-taking-over-tesla-as-biggest-ev-seller" target="_blank" rel="noreferrer noopener">took over Tesla</a>&nbsp;as the world&#8217;s largest BEV seller in the fourth quarter of 2023. However, Tesla took back the crown in the first quarter of 2024 and held on to it for three consecutive quarters through the end of September. In the fourth quarter, BYD stole back the title. 
Tesla reported in January that it delivered&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on" target="_blank" rel="noreferrer noopener">495,570 BEVs in the three months</a>&nbsp;through the end of December, significantly lower than the 595,413 BEVs&nbsp;<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" target="_blank" rel="noreferrer noopener">sold by BYD</a>&nbsp;in the period.
Vehicle Registrations In The UK: In January, battery electric vehicle registrations in the UK rose 42% to 29,634 units while plug-in hybrid registrations rose 5.5% to 12,598 units. Overall vehicle registrations, across fuel types, however, fell 2.5% to 139,345 units following a drop in registrations of gas and diesel-powered vehicles. 
Weak consumer confidence and tough economic conditions contributed to this decline in registrations, SMMT said. 
&#8220;Despite the increase in the month, BEV market share still remains short of the 22% target set by government for last year, and even further behind the 28% requirement for 2025,&#8221; SMMT said about EV sales in the country while calling for increased government encouragement for EVs.
&#8220;Affordability remains a major barrier to uptake, hence the need for compelling measures to boost demand, and not just from manufacturers,&#8221; Mike Hawes, SMMT Chief Executive, said in a statement. 
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>
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Photo courtesy: Tesla and Shutterstock

BYD Overtakes Tesla In UK After Elon Musk-Led EV Maker's New Vehicle Registrations Drop In January

Chinese EV giant BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) sold 296,446 new energy passenger vehicles in January, marking a jump of nearly 47.5% from last year, thanks to a major jump in plug-in hybrid passenger vehicle sales, the company said on Sunday.
What Happened:&nbsp;Pure passenger EV (battery electric vehicle) sales of the Chinese player rose to 125,377 in January, marking a rise of 19% from the corresponding month of last year.
Plug-in hybrid passenger vehicle sales in the period rose 79% to 171,069 units.
The company also sold 4,092 commercial vehicles in January, including 286 buses.
Why It Matters:&nbsp;BYD is the biggest rival to American EV giant&nbsp;Tesla.
The company first&nbsp;<a href="https://www.benzinga.com/news/24/01/36839203/warren-buffett-backed-byd-sees-higher-profits-for-fy23-after-taking-over-tesla-as-biggest-ev-seller" target="_blank" rel="noreferrer noopener">took over Tesla</a>&nbsp;as the world's largest BEV seller in the fourth quarter of 2023. However, Tesla took back the crown in the first quarter of 2024 and held on to it for three consecutive quarters until the last quarter of 2024. 
Tesla reported in January that it delivered&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on" target="_blank" rel="noreferrer noopener">495,570 BEVs in the three months</a>&nbsp;through the end of December, significantly lower than the 595,413 BEVs&nbsp;<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" target="_blank" rel="noreferrer noopener">sold by BYD</a>&nbsp;in the period.
However, for the whole year, <a href="https://www.benzinga.com/25/01/42780142/chinese-player-byd-overtakes-tesla-yet-again-as-worlds-biggest-ev-seller-in-q4">Tesla delivered 1,789,226 BEVs</a>, retaining its position as the bestselling pure EV brand for the year, despite a year-over-year drop in deliveries of 1.1%. BYD, meanwhile, managed to deliver only 1,764,992 BEVs in the twelve months, or 24,234 units less than Tesla.
BYD, however, makes plug-in hybrids too, unlike Tesla which makes solely battery 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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Photo courtesy: Shutterstock

Tesla Rival BYD Marks 47.5% Growth In January Passenger Vehicle Sales Driven By Popularity Of Plug-In Hybrid EVs

Workers employed at Chinese EV maker BYD Co&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) factory in Brazil reportedly earned nearly twice the Chinese hourly minimum wage in many regions, despite questionable working conditions.
What Happened: Chinese workers hired by BYD&#8217;s contractor Jinjiang and employed at the factory earned about $70 per 10-hour shift, Reuters reported. 
However, the workers had to hand their passports to their new employers and let most of their income be sent directly to China as well as pay a $900 deposit which they could retrieve only after working for six months, the report said, citing a contract signed by one of the several workers who Brazilian authorities said were rescued in December.
Brazilian authorities said in December that they have&nbsp;<a 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" target="_blank" rel="noreferrer noopener">halted the construction of the plant that BYD&nbsp;is building in Salvador</a>, Bahia after finding workers living and working in conditions analogous to &#8220;slavery.&#8221;
Authorities ordered that the construction of the factory in Bahia be stopped after rescuing 163 people working at the site, according to a statement by the Labor Prosecutor&#8217;s Office (MPT). The MPT also noted that the conditions constituted "forced labor." If a worker were to terminate their employment contract after six months, they would leave the country without any pay for their work since the company deducted their airfare to and from Brazil, in addition to other costs, the statement said.
Certain clauses in the agreement viewed by Reuters violate labor laws in both Brazil and China, the report said, citing experts and authorities. One of the clauses also gives the firm the power to extend the labor contract by itself for six months, Reuters added. 
Why It Matters: Jinjiang Group&nbsp;has previously said that the Brazilian authority's portrayal of its employees working at the Chinese EV giant's factory in Brazil as "enslaved" is "completely inconsistent with facts."
Brazilian inspectors have provided no evidence that the EV maker knew of the violations at the construction site. However, according to the acting chief of Brazil&#8217;s Division of Inspection for the Eradication of Slave Labor Matheus Viana&#8216;s statement to Reuters, BYD is &#8220;directly responsible&#8221; for the actions of its contractor on its site. 
BYD was planning to start production at the factory in Brazil in 2025. The company is China's largest EV maker and makes plug-in hybrids and battery electric vehicles which are sold in China, Europe, and also Brazil.&nbsp;BYD even <a href="https://www.benzinga.com/25/01/42780142/chinese-player-byd-overtakes-tesla-yet-again-as-worlds-biggest-ev-seller-in-q4">trumped American EV giant Tesla </a>as the world&#8217;s largest battery electric vehicle seller in the last quarter of 2024. 
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>
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Image via Shutterstock

BYD's Chinese Workers At Brazilian Factory Signed Contracts With Potential Labor Law Breaches: Report

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

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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

Chinese EV-making giant BYD Co Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) has now overtaken its American rival Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) twice in quarterly battery electric vehicle (BEV) sales in the past two years as competition intensified.
What Happened: BYD first <a href="https://www.benzinga.com/24/12/42680542/tesla-or-byd-which-ev-giant-will-sell-more-battery-electric-vehicles-in-q4">took over Tesla</a> as the world&#8217;s biggest BEV seller in the last quarter of 2023. Tesla took back the crown in the first quarter of 2024 and kept it for three consecutive quarters.
However, in the fourth quarter of 2024, <a href="https://www.benzinga.com/25/01/42780142/chinese-player-byd-overtakes-tesla-yet-again-as-worlds-biggest-ev-seller-in-q4">BYD took back the title</a> after selling 595,413 BEVs, significantly higher than the 495,570 delivered by Tesla in the period. 
For the entirety of 2024, BYD sold 1,764,992 BEVs, or just 24,234 units less than Tesla. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="690" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16234455/FAQAk-quarterly-bev-sales-tesla-vs-byd-1024x690.png" alt="" class="wp-image-738126" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16234455/FAQAk-quarterly-bev-sales-tesla-vs-byd-1024x690.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16234455/FAQAk-quarterly-bev-sales-tesla-vs-byd-300x202.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16234455/FAQAk-quarterly-bev-sales-tesla-vs-byd-768x518.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16234455/FAQAk-quarterly-bev-sales-tesla-vs-byd.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
BYD also makes plug-in hybrids (PHEVs) in addition to BEVs, unlike Tesla which makes only BEVs, giving it another addressable market segment.
According to data research firm Rho Motion, 17.1 million EVs, including BEVs and PHEVs, will be sold in 2024.
In 2024, BYD sold 4.25 million passenger vehicles (both BEVs and PHEVs), accounting for roughly 25% of the world&#8217;s total EV sales in the period.
Tesla, in the period, sold 1.79 vehicles, or just 10.5% of overall global EV sales. 
Why It Matters: Tesla CEO Elon Musk dismissed BYD as a competitor in a Bloomberg <a href="https://www.bloomberg.com/news/videos/2023-12-27/in-2011-tesla-ceo-musk-mocked-chinese-competitor-byd-video">interview</a> in 2011.
&#8220;Have you seen their car?&#8221; Musk then laughed when the reporter asked about BYD rivaling his EV company. He added that he does not think the BYD product is &#8220;particularly attractive.&#8221;
The billionaire CEO, however, did a complete U-turn on this statement in January 2024. 
&#8220;Frankly, I think if there are not trade barriers established, they will pretty much demolish most other car companies in the world. So they&#8217;re extremely good." the CEO said about Chinese EV makers during the company&#8217;s earnings call after BYD trumped Tesla in quarterly deliveries for the first time. 
The rivalry between the two EV makers has only intensified since. In Q3 2024, BYD <a href="https://www.benzinga.com/news/24/10/41647639/teslas-chinese-rival-byd-outshines-elon-musks-ev-giant-in-quarterly-revenue-for-first-time-since-202">trumped Tesla in quarterly revenue</a> for the first time since 2022. BYD stopped making combustion engine vehicles in March 2022 to focus on electric vehicles.
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>
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Photo courtesy: Shutterstock

In 2011, Elon Musk Mocked Tesla Rival BYD. Fast Forward To 2024, The Chinese Automaker Is The Only Real Contender To TSLA's Global Dominance

Grab Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRAB#NASDAQ">GRAB</a>) shares are trading marginally higher <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">in the premarket session on Wednesday.</a>
The firm has announced a <a target="_blank" href="https://www.grab.com/sg/press/others/grab-and-byd-enter-strategic-partnership-to-expand-electric-vehicle-fleet-offering-across-southeast-asia/" rel="noreferrer noopener">regional partnership</a> with BYD to expand access to up to 50,000 electric vehicles for Grab&#8217;s driver-partners across Southeast Asia, enhancing the availability of green vehicles for its users.
This collaboration aims to overcome the region&#8217;s key barrier to EV adoption: high upfront costs.
This partnership spans six Southeast Asian countries—Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam—and includes models like the DENZA D9, BYD ATTO3, BYD SEAL, and BYD M6.
The DENZA D9, a luxury electric vehicle, will be featured in GrabExec, setting a new standard for executive transportation with its advanced features and sustainability.
Last July, BYD announced a multi-year strategic partnership to add 100,000 new BYD electric vehicles to the&nbsp;Uber platform <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/40077563/uber-and-byd-team-up-for-electric-future-100k-evs-to-hit-the-road" rel="noreferrer noopener">in key global markets.</a> However, the deal with Uber focused on Europe and Latin America, with plans to expand to the Middle East, Canada, Australia, and New Zealand.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/42996752/us-stocks-to-open-higher-ahead-of-december-inflation-data-all-eyes-on-baking-earnings-by-jpm-goldman-citi-wells-fargo" rel="noreferrer noopener">US Stocks To Open Higher Ahead Of December Inflation Data: All Eyes On Banking Stocks As JPMorgan, Goldman, Citi, Wells Fargo Report Quarterly Earnings</a>
In the latest development with Grab, BYD plans to provide Grab&#8217;s fleet and driver-partners with access to affordable BYD vehicles, including extended warranties for the vehicles&#8217; batteries.
Drivers can choose to rent these EVs through Grab&#8217;s fleet partners or access financing options via Grab&#8217;s car ownership schemes. This partnership aligns with Grab&#8217;s sustainability goals, helping accelerate the transition to zero-emission transportation.
In countries like Singapore and Thailand, Grab users can select an &#8220;Eco-Friendly Ride&#8221; option at no extra charge, prioritizing green vehicles for their rides.
Liu Xueliang, General Manager of BYD Asia Pacific Auto Sales Division, said, &#8220;We are excited to partner with Grab as the leading on-demand transport provider in Southeast Asia and push forward the transition to electric vehicles in the region.&#8221;
Per a <a target="_blank" href="https://www.statista.com/outlook/mmo/electric-vehicles/southeast-asia" rel="noreferrer noopener">report</a> by Statista, the Electric Vehicles market in Southeast Asia is expected to reach $6.798 billion by 2025. From 2025 to 2029, the market is projected to grow at a rate of 4.02% annually. By 2029, the market volume is expected to hit $7.958 billion.
The partnership will also focus on deep technological integration to enhance Grab&#8217;s services. BYD vehicles will integrate with Grab&#8217;s platform through IoT, providing real-time data on driving patterns and behaviors. This data will help improve driver safety and overall experience, with features like larger screens displaying jobs, navigation, and chats directly in the vehicle&#8217;s head unit.
The integration of real-time data, such as weather and traffic conditions, will also help improve ride reliability and route optimization, ensuring better ETA accuracy and efficient navigation.
Price Action: GRAB shares are trading higher by 2.06% to $4.45 premarket at last check Wednesday.
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Photo via Shutterstock.

GRAB

Grab Teams Up With BYD To Boost EV Availability For Southeast Asia's Driver-Partners

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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