Etiqueta: Hong Kong

China's manufacturer BYD is planning to launch a 1,000-volt platform for its premium electric models in order to speed up their charging processes, among

Chinese EV maker BYD is partnering with drone manufacturer DJI to make science fiction Blade Runner-style movie magic real: a drone that launches from the car's roof.

Shanghai (Gasgoo)- On March 4, BYD Company Limited announced a massive refinancing plan, revealing a share placement that is worth HK$43.509 billion in expecte

(Bloomberg) -- Long-term investors snapped up a significant chunk of BYD Co.’s $5.6 billion stock offering, people familiar with the matter said, a vote of confidence in the electric-vehicle maker and Chinese equities more broadly. Most Read from BloombergCuts to Section 8 Housing Assistance Loom Amid HUD UncertaintyHow Upzoning in Cambridge Broke the YIMBY MoldRemembering the Landscape Architect Who Embraced the CityNYC Office Buildings See Resurgence as Investors Pile Into BondsHong Kong Joins

Chinese electric vehicle giant BYD ($BYDDF) said it raised almost $5.6 billion in a share sale on Tuesday, driving investors to offload the stock in Hong Kong as it...

China’s leading NEV manufacturer BYD plans to place 129,800,000 new shares on the Hong Kong stock market.

BYD launched 4 electric commercial vehicles in the UAE for use in the delivery and public transportation sectors.

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

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.

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