Tesla Rival BYD Plans Big Commercial-Vehicle Push

The Wall Street Journal2023-03-08

China’s BYDCo., having risen over the past decade to become one of the top global sellers of electric passenger cars, is now plotting a big push into battery-electric commercial vehicles.Over the next...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

YC9591
2023-03-08
YC9591
Ok

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1109175250?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-03-08 17:36","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1109175250","market":"hk","top_or_hot":-1,"title":"Tesla Rival BYD Plans Big Commercial-Vehicle Push","media":"The Wall Street Journal","content":"<div>\n<p>China’s BYDCo., having risen over the past decade to become one of the top global sellers of electric passenger cars, is now plotting a big push into battery-electric commercial vehicles.Over the next...</p>\n\n<a href=\"https://www.wsj.com/articles/tesla-rival-byd-plans-big-commercial-vehicle-push-a2016228?mod=tech_lead_pos2\">Source Link</a>\n\n</div>\n","source":"wsj_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Rival BYD Plans Big Commercial-Vehicle Push</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Rival BYD Plans Big Commercial-Vehicle Push\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-08 17:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/tesla-rival-byd-plans-big-commercial-vehicle-push-a2016228?mod=tech_lead_pos2><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China’s BYDCo., having risen over the past decade to become one of the top global sellers of electric passenger cars, is now plotting a big push into battery-electric commercial vehicles.Over the next...</p>\n\n<a href=\"https://www.wsj.com/articles/tesla-rival-byd-plans-big-commercial-vehicle-push-a2016228?mod=tech_lead_pos2\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01211","symbol_name":"比亚迪股份","start_time":0,"source_url":"https://www.wsj.com/articles/tesla-rival-byd-plans-big-commercial-vehicle-push-a2016228?mod=tech_lead_pos2","article_id":"1109175250","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1109175250","pubTimestamp":1678268176,"columns":[],"sourceInfo":{"source_id":"wsj_highlight","name":"The Wall Street Journal"},"weMediaInfo":null,"summary":"China’s BYDCo., having risen over the past decade to become one of the top global sellers of electri","collect":0,"end_time":0,"defaultTopTitle":"wsj.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"01211":"比亚迪股份","002594":"比亚迪","BYDDY":"比亚迪ADR"},"translate_title":"特斯拉的竞争对手比亚迪计划大力推进商用车","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"002594":0.9,"01211":0.9,"BYDDY":0.9},"content_text":"China’s BYDCo., having risen over the past decade to become one of the top global sellers of electric passenger cars, is now plotting a big push into battery-electric commercial vehicles.Over the next three years, BYD plans to introduce new commercial-vehicle models in markets including China, Europe and Japan, according to people familiar with the company’s plans. It has mapped out a budget of more than $20 billion for its commercial-vehicle unit through 2025, with major outlays planned for research, product development and expansion of production capacity, the people said.A spokesperson for BYD declined to comment. The exact breakdown of the spending couldn’t be learned.The push is part of an emerging shift in the industry’s thinking about next-generation trucks. Some companies see non-battery technologies such as hydrogen fuel cells as a better fit for big trucks, especially those traveling long distances, because they believe the batteries to power such trucks would be too heavy.People at BYD believe its in-house battery, which it calls a blade battery, can address the issue. Blade batteries contain a number of long, flat blade-like cells slid into a battery pack, a structure that BYD says maximizes use of space and energy density, while minimizing overall vehicle weight.BYD is best-known for its passenger cars, where it vies with Tesla Inc. for global leadership and is fast-growing outside of China. Until this year, BYD’s commercial-vehicle business mostly consisted of buses.But in January and February of this year, it sold a combined 2,774 commercial vehicles other than buses, more than 10 times the figure in the same period a year earlier. The company’s website shows a range of commercial vehicles including delivery vans, freight trucks, cement mixers and street sweepers.The move to expand in commercial vehicles could help BYD counteract potentially slower growth in sales of passenger EVs. China, the world’s biggest EV market, has ended subsidies to help consumers buy EVs.Those subsidies helped electric and plug-in hybrid cars grow to make up 26% of new passenger-car registrations in China in 2022, up from 6% two years earlier. ING Group expects that share to grow just slightly this year to 27.5%.Meanwhile, BYD expects commercial-vehicle sales to recover in China after the country ended strict Covid-19 curbs that had squeezed public transport and commercial activity, the people familiar with the company’s plans said.BYD, whose shareholders include Warren Buffett’s Berkshire Hathaway Inc., also has its eye on global markets. It operates commercial-vehicle factories in countries including Brazil, Hungary and India in addition to several plants in China.BYD faces many challengers on the commercial-vehicle front. Earlier this week, Isuzu Motors Ltd. introduced an electric light-duty truck in Japan. Mercedes-Benz Group AG said last month it would start selling a new electric van that would be produced in North America and Europe and made available in 60 markets worldwide.In China, electric commercial-vehicle sales are likely to continue to grow, but the market is competitive with over a hundred manufacturers offering electric bus or truck options, said Yvonne Zhang, a Shanghai-based research associate at market intelligence firm Interact Analysis. This competition, she said, has led Chinese auto makers to turn their eyes abroad.China’s big and fairly well-developed market “gives Chinese companies an advantage in terms of costs,” Ms. Zhang said, and the emergence of battery-powered trucks and buses gives them an opening to enter overseas markets.Overall, China shipped around 28,000 battery-electric trucks abroad last year, more than five times what it exported in 2021, according to the China Passenger Car Association.One country where BYD has relatively limited hopes is the U.S., because of recent geopolitical tensions, according to the people familiar with the company’s plans. They said expansion in the U.S. is generally on hold for now.Since 2014, BYD has delivered electric buses produced at a factory in Lancaster, Calif., in the U.S. and Canada. It is currently North America’s largest electric-bus manufacturer, though its production capacity remains relatively small at about 1,500 vehicles a year.Chinese Foreign Minister Qin Gang said on a visit to BYD’s Lancaster factory last year that the plant showcased mutually beneficial cooperation between the countries.Making a big battery-electric truck is hard because of “weight compounding”—as the battery pack gets bigger and heavier, more of the batteries’ energy is used simply to move the batteries themselves. BYD’s main commercial-vehicle platform, introduced in 2020, wasn’t designed specifically for its blade-battery technology.Company researchers are now working on modifying both the battery and platform—the basic architecture of the vehicles—so that they are better integrated with each other and optimized for commercial vehicles, said the people familiar with BYD’s plans.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9949994397,"gmtCreate":1678286459319,"gmtModify":1678287973717,"author":{"id":"3561880645888295","authorId":"3561880645888295","name":"YC9591","avatar":"https://static.tigerbbs.com/9c545651fd907995df5cd8b85f420645","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3561880645888295","authorIdStr":"3561880645888295"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949994397","repostId":1109175250,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":30,"commentSize":1,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1109175250"}