Hyperdrive
BYD’s Export Outlook Key to Next Phase of 66% Peer-Beating Rally
- Sales beyond China, profitability in focus in company results
- Overseas plans to underpin mid/long-term growth, Nomura says
BYD sold more than 1.1 million passenger new energy vehicles in the three months through September, a record quarterly amount.
Photographer: Maira Erlich/BloombergThis article is for subscribers only.
With the market already anticipating record sales from Chinese automaker BYD Co., a convincing overseas growth story will be needed to spur the next leg of its peer-beating stock rally.
The company has established itself as the leader in China’s electric-vehicle market, the world’s largest, and is poised to post higher quarterly revenue than Tesla Inc. for the first time ever. Profitability will be closely watched when BYD reports earnings on Oct. 30 amid ongoing price wars in the sector.