Etiqueta: Elon Musk

A number of tariffs could support EV prices going forward, while Tesla and BYD vie for the lead.

Chinese carmakers, especially BYD, have been expanding globally, driven by an electric-vehicle price war at home that has reduced prices and impacted profit margins.

Shares of Chinese electric vehicle (EV) maker BYD Company (OTCMKTS:BYDDY) rallied on Thursday as investors cheered lower-than-anticipated additional tariffs imposed...

The latest investor updates on stocks that are trending on Thursday.

Foreign politicians are "afraid" of Chinese firms, according to BYD Chairman Wang Chuanfu, who urged competition to speed up the industry's transition to EV.

"No Model Y 'refresh' is coming out this year", Musk said, adding that Tesla continuously improves its cars, "so even a car that is 6 months newer will be a little better." Tesla has been slow to refresh its ageing models as high interest rates have sapped consumer appetite for big-ticket items, while rivals in China, the world's largest auto market, are rolling out cheaper models. Last year, Reuters reported that Tesla was readying a production revamp of Model Y with a target of starting production in 2024.

BYD Company Limited's performance in PHEV sales, impressive driving range, and China's EV market dominance position them for success. Click for my BYDDF update.