BYD Co Ltd

VinFast is set to break ground on its delayed U.S. factory on Friday.Steve Russell | Toronto Star | Getty ImagesLe acknowledged that there's increasing competition in the U.S. market."We think that there's still a lot of room for new players. I think the U.S. consumers are open to new players, as long as we have good quality products," said Le.VinFast entering the U.S. EV market means it will have to go up against Tesla and BYD, as well as traditional automakers increasingly focusing on hybrids and EVs.But crucially, the…

BYD Vice President Yang Dongsheng speaks at a launch event for the Denza N7 electric SUV on July 3, 2023, in Beijing.Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese electric car giant BYD is launching a new electric SUV, its most direct competitor yet to Tesla's Model Y.BYD's Denza brand said Monday evening it received more than 20,000 pre-orders for its N7 all-electric SUV, and announced a price range of 301,800 yuan to 379,800 yuan ($41,680 to $52,452).That rivals Tesla's Model Y, whose latest prices range from…

Akio Toyoda, Chairman of Toyota Motor Corp.Yoshikazu Tsuno | Gamma-rapho | Getty ImagesDETROIT – Toyota Motor's stock is having its best week since 2009 following the company disclosing plans for its next-generation electric vehicles and shareholders voting in favor of its new leadership, including former CEO Akio Toyoda as chairman.Shares of Toyota on the New York Stock Exchange on Thursday achieved a new 52-week high of more than $168 per share, up 2% during intraday trading and roughly 13% this week.If shares can…

A Li Auto store inside a shopping mall in Yantai, Shandong province on May 6, 2023.Future Publishing | Future Publishing | Getty ImagesBEIJING — Chinese electric car startup Li Auto said it delivered more than twice as many cars in May versus a year ago.For a third-straight month, Li Auto's deliveries topped 20,000 with a climb to 28,277 vehicles in May, according to a release Thursday. That's up by about 146% from a year ago.related investing newsIn contrast, competitors Nio and Xpeng both reported a year-over-year drop…

Ford CEO Jim Farley on Feb. 13, 2023 at a battery lab for the automaker in suburban Detroit, announcing a new $3.5 billion EV battery plant in the state to produce lithium iron phosphate batteries, or LFP, batteries.Michael Wayland/CNBCDETROIT – Ford Motor's largest competition in electric vehicles isn't U.S. leader Tesla or crosstown rival General Motors, it's Chinese automakers, CEO Jim Farley said Thursday.Farley said Chinese companies such as Warren Buffett-backed BYD are ahead of the large U.S. automakers and…

A XPeng Inc. G6 electric sport utility vehicle (SUV). The company is hoping the release of the new car will boost sales which plunged in the first quarter.Qilai Shen | Bloomberg | Getty ImagesShares of Chinese electric vehicle firm Xpeng dropped on Wednesday after the company reported earnings that missed expectations and forecast a plunge in car sales.Xpeng shares were down more than 5% in pre-market trade in the U.S.Here's how the company did versus Refinitiv consensus estimates for the first quarter:Revenue: 4.03…

A presenter stand next to Hyundai's all-electric SUV 'IONIQ 5' during its launch at the Auto Expo 2023 on January 11, 2023 in Greater Noida, India.Ajay Aggarwal | Hindustan Times | Getty ImagesSouth Korean automaker Hyundai Motor Company is ramping up its production capabilities as it aims to become one of the world's top three electric vehicle manufacturers by 2030.The automaker is investing heavily in research and development, building new plants and platforms as well as expanding EV lines and production capacity."We…

Visitors check a Tesla Model 3 car next to a Model Y displayed at a showroom of the U.S. electric vehicle (EV) maker in Beijing, China February 4, 2023.Florence Lo | ReutersTesla hiked the price of several cars in key markets, including the U.S. and China, after a number of cuts this year.Elon Musk's electric vehicle company increased the price of vehicles including its Model 3 and Model Y in the U.S., China, Canada, and Japan.In China, Tesla's Model 3 now costs 231,900 Chinese yuan ($33,549), up from the previous price…

Huawei's co-developed Aito electric car brand is now selling an updated version of the M5 model that comes with new driver-assist tech.Bloomberg | Bloomberg | Getty ImagesBEIJING — Companies in China are playing up assisted driving technology as a way to compete in the hot electric car market.Around the Shanghai auto show that kicked off last week, electric car startups and Chinese tech companies alike made several announcements about their driver-assist tech.It's not clear how powerful any of the announced features are —…

Toyota displays a new concept electric car — developed jointly with BYD and FAW — at the Shanghai auto show in April 2023.CNBC | Evelyn ChengBEIJING — Toyota this week began taking orders for its first electric sedan in China, and announced two more models are set to come to the local market next year.The three cars are part of the Japanese car giant's bZ, or "beyond zero" lineup of battery-electric cars. Toyota, the world's largest automaker by vehicles sold, has been relatively cautious about investing in fully electric…