BYD Co Ltd

Nio began deliveries of its new ET7, an upscale electric sedan, on Monday, March 28, 2022.NioU.S.-traded shares of Chinese electric vehicle makers were among those hit by a dramatic selloff on Monday, as investors soured on non-state-run Chinese companies following a weekend of dramatic political developments in China.Shares of Li Auto were down 21%, Nio's were down 20%, and Xpeng Motors' plunged 15% in late morning trading in New York, while shares of larger BYD were down about 9%. Other prominent Chinese companies…

Warren Buffett-backed BYD said it expects a more than 300% jump in third-quarter profit. Despite headwinds including a resurgence of Covid in China, rising material costs and a slowing economy, BYD has remained fairly resilient.Nathan Laine | Bloomberg | Getty ImagesShares of Chinese electric carmaker BYD rose Tuesday after the company forecast a huge jump in profit for the third quarter.Late Monday, the Warren Buffett-backed firm said net profit in the three months to Sept. 30 is estimated to be between 5.5 billion yuan…

Chinese electric car company BYD has expanded rapidly overseas, including announcements in recent months of plans to enter Thailand's and Japan's passenger car markets. Pictured here is a test drive of BYD's electric Atto 3 SUV in Yokohama, Japan, in August 2022.Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese electric car and battery giant BYD is planning to open its first wholly invested passenger car factory outside China — in Thailand.BYD signed a contract Thursday to buy land and build a factory for new energy…

XPeng is still focused in boosting the sales of its electric cars. But it has been focusing on building out future businesses in flying cars and robotics.Qilai Shen | Bloomberg | Getty ImagesChinese e-commerce giant Alibaba and electric vehicle startup Xpeng are opening a computing center to train software for driverless cars, the two companies said Tuesday.Autonomous driving systems require huge amounts of data to be processed in order to train algorithms.Xpeng claims that the new computing center will reduce the…

BMW's iX electric SUV in China was the first global car brand to include the automobile version of Tencent's WeChat messaging app, according to the Chinese tech company.TencentBEIJING — Chinese internet giant Tencent wants to sell technology which the company says will help foreign automakers that want to sell cars in China's massive electric vehicle market.BMW and some U.S. automakers are already working with Tencent, Liu Shuquan, vice president of Tencent Intelligent Mobility, which is part of Tencent's cloud business.…

One of BYD's bestselling electric car models, the Han, is on display during an auto show in Shenzhen on June 5, 2022.Anadolu Agency | Anadolu Agency | Getty ImagesBEIJING — Chinese electric car maker BYD saw sales more than double in May, solidifying the company's climb into the ranks of the top three automakers in China.That's according to data by the China Passenger Car Association which was released Friday. China is the world's largest auto market.Backed by Warren Buffett's Berkshire Hathaway, BYD is also a battery…

This photo from Dec. 2019 shows robotic arms spray painting a car body shell at the BYD Automobile Company Limited Xi'an plant. BYD is set to supply Tesla with batteries "very soon," a senior company executive told a Chinese state media anchor.Yuan Jingzhi | Visual China Group | Getty ImagesShares of electric vehicle maker BYD jumped in Wednesday morning trade after a senior executive said during an interview with Chinese state media that the company is set to supply batteries to Tesla "very soon.""We're now good friends…