Etiqueta: Tariffs

The official local agent of the Chinese electric vehicle manufacturer BYD in Sri Lanka on Sunday advertised a plug-in hybrid version instead of a full EV that

Stocks to watch this morning include CoreWeave (CRWV), the NVIDIA (NVDA)-backed AI cloud scaler, which is rising after some big swings in recent weeks. In the pharmaceutical sector, AstraZeneca (AZN) gains as it announces plans to list in New York, while GSK (GSK) and UCB SA (UCB.BR) are up on appointing a new CEO and positive trial results, respectively. And it's a high-stakes moment for Tesla (TSLA), BYD (1211.HK) and other makers of electric vehicles, amid a global slowdown and as a $7,500 tax credit comes to an end in the US. For more live coverage of markets watch the full episode of Market Sunrise and head to Yahoo Finance.

It's never ideal to hear that the world's most famous investor sold his stake of a company, but should investors follow?

It's never ideal to hear that the world's most famous investor sold his stake of a company, but should investors follow?

Chinese electric vehicle (EV) stocks NIO (NYSE: NIO) and Li Auto (NASDAQ: LI) slipped Friday following news that Beijing plans to implement stricter regulations on EV exports.

August sales figures are in and BYD outsold Tesla in Europe for the second month in a row as the US company continues to struggle.

BYD's launch of its high-quality, sub-$20,000 Seagull EV in Latin America is a strategic masterstroke that massively undercuts the competition, establishing a powerful beachhead in the Americas and exposing the critical failure of Western automakers.

On Thursday, data from the ACEA showed that BYD sold three times as many new cars in Europe, surpassing Tesla for the second month in a row.

STORY: Chinese EV maker BYD outsold Tesla in the EU for the second month in a row. Data showed BYD sold three times as many cars to the bloc in August than in the same month last year. Stellantis also had buoyant results, returning to sales growth in Europe for the first time in over a year.That’s as the overall market expanded with a boost from plug-in hybrid and battery-electric sales.Europe's battered car industry faces a number of challenges.This includes U.S. import tariffs and competition from China. As well as difficulties in meeting domestic regulations for EV adoption in a way that yields profit. Carmakers have ramped up PHEV sales to comply with emission standards, with more affordable and more profitable cars than pure EVs. Chinese brands have also used the technology to minimize the impact of EU tariffs on Chinese-made EVs.As well as to win over China-skeptic European drivers.And with BYD’s sales up over 200% in August, it took 1.3% of the market.Whereas EU sales for Elon Musk's Tesla dropped 36.6%, squeezing its market share to 1.2% from 2% a year ago.And as total EU car sales rose last month, the registration of hybrid and electric vehicles rose to over 62% in the bloc.

(Reuters) -Chinese EV maker BYD sold three times as many new cars in the European Union last month than in August 2024, surpassing U.S. competitor Tesla for the second consecutive month, data from the European auto lobby ACEA showed on Thursday. Stellantis returned to sales growth in Europe for the first time in over a year, as the overall market expanded with a boost from plug-in hybrid (PHEV) and battery-electric (BEV) sales. Chinese brands have also used the technology to minimise the impact of the European Union's tariffs on Chinese-made EVs, and to win over China-skeptic European drivers.