Etiqueta: Elon Musk

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.

Several major Chinese car companies saw big sales increases in May.

Chinese Automakers Surge In UK As Tesla, Ford Sputter: BYD Leads 2,700% Sales Increase In May

FinDreams Battery, a wholly-owned subsidiary of Chinese automaker BYD, has won a contract to supply affordable lithium iron phosphate (LFP) battery cells