BYD’s $45 Billion Stock Wipeout Raises Doubts on China Outlook
BYD now expects to deliver 4.6 million vehicles this year, a steep drop from its earlier target of 5.5 million.
Photographer: Qilai Shen/BloombergBYD Co. faces pressure to restore investor confidence after a $45 billion stock selloff, with growing concerns over its ability to fend off competition amid a destructive price war in China.
The Chinese electric-vehicle maker’s Hong Kong-listed shares have tumbled more than 30% from the all-time high reached just four months ago, underperforming peers. Analyst sell ratings on BYD have surged to the highest level since 2022, Bloomberg-compiled data show.