Transportation
BYD Shares Hit Record High, Trouncing Tesla’s Stock This Year
- Stock jumped on plans for driver-assistance features
- Move to test rivals in China’s booming EV market, analysts say
BYD will make its God’s Eye driver-assistance system standard in vehicles priced from 100,000 yuan ($13,684) in China.
Photographer: Valeria Mongelli/BloombergThis article is for subscribers only.
BYD Co. shares briefly rose to their highest intraday price on record, reflecting optimism that the Chinese electric vehicle leader will further challenge peers like Tesla Inc. through its smart-driving strategy.
The automaker’s Hong Kong-listed stock jumped as much as 4.5% to an all-time high on Tuesday after the company unveiled plans to enable advanced driver-assistance features in almost all future models at no additional cost. It later erased gains as traders took profit following three sessions of advances that pushed it into overbought territory.