Automundo China

Tesla rival says follow-on Hong Kong offering is the biggest in the global automotive sector in a decade

BYD has launched the Han EV, Song Plus EV and Song Plus DM-i in Kazakhstan.

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.

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News! T&E reaction to Ursula von der Leyen statement on Automotive Dialogue. The EU Commission will weaken the 2025 CO2 target for carmakers by allowing them to comply over three years instead of one, President Ursula ... [continued]

The EV maker’s rationale for the share sale is reasonable, despite the short-term share-price drop on the news, an analyst says.

China's leading electric vehicle (EV) manufacturers saw significant growth in February 2025, with impressive increases in sales across the sector, Azernews reports.

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News! Plugin vehicle registrations were up 18% year over year (YoY) in January, to over 1.2 million units, with BEVs being the driver of growth (+24% YoY) compared to PHEVs (+8%). Share-wise, 2025 started with ... [continued]