BYD Stock: What to Know About the EV Maker That Just Dethroned Tesla

InvestorPlace2022-07-06

Chinese electric vehicle (EV) maker BYD(BYDDF) unloaded more EVs than Tesla(TSLA) last quarter.As a result, BYD is being crowned as the world's largest EV maker.BYD is based in China and has nearly ...

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Comments

Bash
2022-07-06
Bash
Like pls, thank you
IZzz
2022-07-06
IZzz
BYD numbers contain non-pure EVs I heard
JoshTay
2022-07-06
JoshTay
oh my
DJBoy
2022-07-06
DJBoy
Wow
TaiWoeiHaur
2022-07-06
TaiWoeiHaur
Good stock
bunnygal
2022-07-06
bunnygal
thanks

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BYD stock rose 0.62% today.In the first half of 2022, BYD sold 641,000 EVs, representing a year-over-year surge of more than 300%. In June, BYD sold more than three times the number of EVs it unloaded during the same month in 2021.Meanwhile, Tesla delivered nearly 565,000 EVs during the same period. And in the second quarter of this year, Elon Musk’s automaker unloaded 254,695 EVs, down meaningfully from the 310,048 EVs that it delivered in Q1.Tesla noted that in Q2, it had had to contend with “ongoing supply chain challenges and factory shutdowns beyond [its] control.” On a positive note, however, the American automaker reported it had produced more EVs in June than in any previous month in its history.The Background on BYD StockBYD, whose headquarters is in Shenzhen China, had roughly 288,000 employees in 2021, versus just about 224,000 in 2020. The company specializes in making plug-in hybrid vehicles and EV batteries. Plug-in hybrid vehicles have both EV batteries and gas engines. 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