Automundo China
BYD in major new share placement in HK
China’s leading NEV manufacturer BYD plans to place 129,800,000 new shares on the Hong Kong stock market.
Tesla China-made sales tumble as rivals see increases
Tesla Inc saw sales of its China-made electric vehicles tank to their lowest since August 2022 in February as rivals enjoyed improvements. According to the...
BYD launches 4 electric commercial cars in UAE
BYD launched 4 electric commercial vehicles in the UAE for use in the delivery and public transportation sectors.
New Volkswagen ID.3 with LFP battery and larger screen launched in...
The first ID.3 with LFP battery.
The post New Volkswagen ID.3 with LFP battery and larger screen launched in China for 16,500 USD appeared first on CarNewsChina.com.
China EV insurance registrations for week ending Mar 2: Nio 3,100,...
Xpeng 6,700, Li Auto 7,300, Zeekr 3,600, Leapmotor 5,900, Aito 3,800.
BYD cars to adopt drone systems from DJI to make the...
The first car to adopt the BYD & DJI drone system is the Fang Cheng Bao Bao 8 off-roader with a starting price of 395,800 yuan (54,330 USD).
The post BYD cars to adopt drone systems from DJI to make the driving funny appeared first on CarNewsChina.com.
Chinese EV maker BYD raises $5.6bn in share sale to drive...
Tesla rival says follow-on Hong Kong offering is the biggest in the global automotive sector in a decade
BYD enters Kazakhstan, expands Central Asia presence to 3 countries
BYD has launched the Han EV, Song Plus EV and Song Plus DM-i in Kazakhstan.
BYD raises $5.6 bln in share sale, Hong Kong’s biggest in...
STORY: EV giant BYD said Tuesday it raised almost $5.6 billion in a share sale. That made it the biggest such listing in Hong Kong for four years. Now the Chinese firm plans to use the money to increase research and development spending and expand overseas. BYD has rapidly emerged as the country’s biggest automaker. But over 90% of its 4 million sales last year were in its home market. There it accounted for more than a third of the total shipments of electric cars and plug-in hybrids.In February alone, it launched 21 new electrified vehicles in a bid to stay competitive at home. The firm is also ramping up hiring, with a goal to sell up to 6 million vehicles this year. That would put it roughly on par with General Motors. As part of the drive, it’s ramping up export efforts, with Brazil currently its largest overseas market. Now the share sale reflects increasing optimism over the tech sector in China and Hong Kong. Sentiment has lifted following a high-level summit of top executives led by Chinese President Xi Jinping. Investors took that as a sign that the government planned to give more support to the tech sector. BYD shares were down over 6% by early afternoon Tuesday, broadly in line with the discount offered on the stock in the listing. Shares in major exporters were also under pressure following Donald Trump’s confirmation that he was pressing ahead with new tariffs, including on Chinese goods.
