Geely’s World-Beating Stock Rally Heightens Rivalry With BYD

Geely Automobile Holdings Ltd. is now the world’s best-performing electric-vehicle stock, following a torrid rally fueled by optimism about the reinvention of a combustion engine-era brand.

The Chinese automaker’s Hong Kong-listed shares have surged more than 50% since the Iran war began, to their highest in over four years and topping an 81-member global gauge tracking EV-linked firms. Arch-rival BYD Co.’s shares have risen around 7% in the same period, when the oil shock has helped drive an EV sales boom.