Etiqueta: Germany

Tesla's Chinese competitor BYD recorded a 73 per cent jump in fourth-quarter profit on Monday and said its annual revenue for 2024 crossed the $100 billion US mark, surpassing the U.S. automaker.

The Shenzhen-based firm says revenue for last year came in at $107bn, boosted by sales of its hybrid vehicles.

Hyundai (HYMTF) is planning to expand in the US, with the automaker set to spend about $21 billion in the US through 2028. Additionally, shares of Chinese automaker BYD (BYDDY) jumped as the company reported better-than-expected earnings results, beating Tesla's (TSLA) full-year 2024 sales. Yahoo Finance Senior Reporter Pras Subramanian joins Market Domination hosts Julie Hyman and Josh Lipton to discuss Hyundai's expansion, BYD's earnings, and declining Tesla sales in Europe. To watch more expert insights and analysis on the latest market action, check out more Market Domination here.

China’s BYD beat estimates after sales topped the $100 billion mark for the first time last year. Even with lower-priced...

European Commission targets BYD suspecting unfair financial help from China's government for the electric-vehicle automaker's Hungary plant being constructed with imported Chinese labor.

UK is a "very high priority" as a market but won't host a plant due to insufficient labour

Localisation work will be carried out in the UK says BYD boss Stella Li, with factories in Hungary and Turkey

Wang Chuanfu founded BYD (short for Build Your Dreams) in 1995 as a company that manufactured batteries. Now, one of its multiple factories alone is capable of producing one million vehicles in a year. The expansion of BYD's production plant in Zhengzhou occupies an area larger than Segovia. In addition to the factories, new campuses have been built for the workers to live in. There are also dozens of cafeterias, sports facilities, and a couple...

Indias Exponent Energy is set to unveil the worlds first 1.5MW ultra-fast charging system for EVs, progressively challenging Chinas BYD. While Exponent has successfully deployed 1MW charging systems within India, Tesla faces declining market share in China and challenges entering the Indian market.

Chinese carmaker’s second shock announcement of the year could put others out of business, say analysts