Chinese electric vehicle giant BYD saw its shares drop by as much as 8% in Hong Kong on Monday after the company reported a sharp decline in quarterly profit, underscoring the toll of intensifying competition in the world’s largest car market. The Shenzhen-based automaker said net profit for the April–June period fell 30% year-on-year to…
Brazilian authorities have filed a lawsuit against Chinese electric vehicle manufacturer BYD and two of its contractors, accusing them of subjecting workers to conditions akin to modern-day slavery during the construction of a factory in the country’s northeast. The Public Labour Prosecutor’s Office (MPT) in Bahia State disclosed that 220 Chinese workers were rescued following…
Chinese electric vehicle powerhouse BYD has debuted a new luxury sports car under its premium Denza brand, furthering its push into the high-end automotive market and intensifying competition with global luxury names like Porsche and Mercedes-Benz. The sleek deep-blue model, known simply as the Denza Z, was unveiled Wednesday at Auto Shanghai, the country’s largest…
The global electric vehicle (EV) industry is witnessing a seismic shift as Chinese manufacturers rapidly gain momentum, challenging Tesla’s long-standing dominance in the sector. Once the unrivaled leader in EV innovation and branding, Tesla now faces intense competition from emerging Chinese automakers reshaping the industry landscape. Companies such as BYD (Build Your Dreams), Nio, and…
Chinese electric vehicle (EV) powerhouse BYD has overtaken Tesla in annual sales, reporting a 29% revenue surge to 777 billion yuan ($107 billion) in 2024, according to a filing on Monday. This milestone comes as competition intensifies in the global clean-energy car market. BYD delivered 4.27 million vehicles, including fully electric and hybrid models, significantly…
Chinese electric vehicle (EV) manufacturer BYD has set a new sales record, positioning itself as a strong competitor to Tesla for the title of the world’s leading EV maker. In 2024, BYD sold 1.76 million fully electric vehicles, according to recent sales figures, bringing it closer than ever to surpassing Tesla’s annual sales. This figure…
Jinjiang Group, a contractor for Chinese electric vehicle manufacturer BYD, has denied allegations by Brazilian authorities that its workers were subjected to “slavery-like conditions” at a construction site in Bahia state. The company attributed the claims to translation errors and cultural misunderstandings, dismissing the accusations as inconsistent with the facts. Brazilian labour officials recently announced…
Brazilian labour officials discovered 163 Chinese nationals working under “slavery-like conditions” at a construction site for a factory owned by Chinese electric vehicle manufacturer BYD in Bahia state, according to the local labour prosecutor’s office on Monday. The workers, who were hired in China by a third-party company, were allegedly brought to Brazil illegally. They…
Chinese electric vehicle giant BYD is recalling approximately 97,000 of its Dolphin and Yuan Plus electric vehicles (EVs) due to a defect in the steering control unit that poses a potential fire risk. The recall, announced by China’s State Administration for Market Regulation (SAMR) on Sunday, affects vehicles produced between November 2022 and December 2023….
BYD, the Chinese automaker recently crowned as the world’s leading electric vehicle seller, has launched its latest innovation in the automotive market: the all-electric Yangwang U9 supercar. With nearly 1,300 horsepower under the hood, this new entry is poised to rival established luxury brands like Lamborghini and Ferrari. Featuring four electric motors and all-wheel-drive capability,…
In a visually stunning move, over 5,000 electric vehicles from Chinese automaker BYD were loaded onto the massive “BYD Explorer No. 1” shipping carrier in China this week, bound for ports in Europe. This development underscores BYD’s growing prominence as the world’s leading electric vehicle (EV) seller, surpassing even Tesla. BYD strategically employs Hungary and…
Chinese electric vehicle (EV) manufacturer BYD has emerged as a formidable contender to surpass Elon Musk’s Tesla as the world’s leading EV producer. The company announced on Monday that it achieved a milestone by selling a record 526,000 battery-only vehicles in the final quarter of 2023, fueled by a remarkable 70% surge in December sales….
BYD outpaced Tesla in the second quarter as the Chinese carmaker posted record sales of hybrid and electric vehicles. Between April and June, BYD (BYDDF) sold more than 700,000 vehicles, almost double the number sold in the same quarter last year and setting a new quarterly record. On Sunday, Tesla (TSLA) announced it had achieved…
