BYD Co Ltd

A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai)Vcg | Visual China Group | Getty ImagesDETROIT – Chinese automakers pose a growing threat to their American counterparts — even without selling directly to consumers in the U.S. market.Sales of China-made vehicles are rising at notable rates in Asia, Europe and other countries. China recently reported exports of more than 5 million vehicles in 2023,…

A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai)Vcg | Visual China Group | Getty ImagesShares of Chinese electric car makers have started the new year in reverse gear, as intense competition and continuing price wars pressure the profitability of automakers, while the overall market sentiment remains weak.Hong Kong-listed shares of Nio and Xpeng have plummeted more than 18% and 16%, respectively,…

Chinese electric vehicle company Xpeng told CNBC on Friday that its newly launched X9 model could be a "game changer" for the industry.Xpeng launched the X9 large 7-seater EV on Jan. 1, a car built on its SEPA2.0 architecture for the Chinese market. The X9 series are priced between 359,800 yuan to 419,800 yuan (about $50,360 to $58,760) with immediate deliveries."For X9, we actually anticipate this to be a game changer for the battery electric vehicles segment for MPVs (multi-purpose vehicles)," Brian Gu, vice chairman…

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 3, 2024, in New York City. Angela Weiss | AFP | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayLabor market remains tightU.S. private sector jobs increased by 164,000 in December, according to payroll…

BYD's new luxury brand Yangwang is selling its first model, the U8, for more than 1 million yuan (US$160,000).CNBC | Evelyn ChengBEIJING — BYD has overtaken Tesla again by the sheer number of new energy vehicles produced in 2023, thanks in part to the Chinese automaker's hybrids and wide range of offerings in a lower price range.While Tesla's Model Y was the best-selling purely battery-powered car in China for the six months ending in November, BYD vehicles accounted for four of the top 10 such cars sold during that time.…

Nio's ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China.Getty Images | Getty Images News | Getty ImagesNio on Tuesday reported narrowing losses in the third quarter, but gave a revenue forecast below market expectations.Here's how Nio did in the third quarter, according to LSEG consensus estimates:Revenue: 19.1 billion Chinese yuan ($2.7 billion) versus 19.4 billion yuan expected.Loss per share: 2.67 yuan per share loss versus 2.91 yuan loss expected. That was smaller than…

Volkswagen's ID.7 is set for release in Europe and China in the fall of 2023, and in North America in 2024.CNBC | Evelyn ChengBEIJING — Chinese brands are taking the lead in the country's rapid shift to new energy vehicles, putting Volkswagen on track for its smallest year of China sales since 2012, according to CNBC analysis of public data for the first three quarters of the year.The German auto giant isn't alone in its struggles, according to CNBC's analysis of 10 global car brands.Nissan is on track for its worst year…

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…