Why China's BYD Company Stock Popped Today

BYD Company (OTC: BYDDY) stock raced 3% higher through 11 a.m. ET Tuesday after the business passed a significant production milestone -- one that puts it head and shoulders above electric vehicle (EV) archrival Tesla (NASDAQ: TSLA).As Elecrek reported yesterday, BYD's car factory in Xi'an, China, just passed 1 million vehicles produced year to date in 2024. Why is this significant? For one thing, BYD -- which surpassed Tesla in terms of quarterly deliveries more than a year ago -- now has the most productive EV factory in all of China. This despite the fact that Tesla's factory in China is the company's largest. BYD's Xi'an factory is already one-third bigger, and it accounts for only one-third of BYD's total production capacity in China. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool