BYD Stock Gain Lags Behind Tesla’s 127% Jump Amid China EV Race
- EV makers compete for share in China’s booming market
- BYD, Tesla deliveries surged amid heated price competition
BYD Co. Denza N7 electric sport utility vehicles unveiled at an event in Beijing.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
BYD Co. and Tesla Inc. are competing head to head in China’s electric-vehicle market, but the US EV maker is a clear winner when it comes to stock performances.
Shares of Tesla have rallied 127% this year in the US as price cuts boosted deliveries and its artificial intelligence potentials triggered frenzied buying. That trumps a 37% gain for BYD in Hong Kong through Tuesday. While a stellar performance as the Chinese EV leader posted a surge in sales and expanded footprint overseas, Berkshire Hathaway Inc.’s reduction in stake has created headwinds.