BYD is a powerhouse in China and sells the most electric vehicles of any company in the world. Now it has a plan to attract buyers in Europe’s largest economy.
Ford’s $3.5 billion plant in Michigan will draw on technology from CATL, a Chinese company that is the world’s No. 1 maker of electric-car batteries.
The electric car company is facing intensifying competition, supply chain disruptions and concerns about the behavior of Elon Musk.
Worry about the carmaker’s sales in the world’s largest car market is one reason the shares have plunged.
The company’s rapid growth is expected to ease as the economy slows and demand for its electric cars weakens.
Investors blame Elon Musk and wonder how much more the stock will fall.
Trump huffed and puffed; Biden is rewriting the rules.
Shares of the company slumped as investors worried about increasing competition.
More electric cars will be sold in the country this year than in the rest of the world combined, as its domestic market accelerates ahead of the global competition.
The country’s success with two- and three-wheeled vehicles that sell for as little as $1,000 could be a template for other developing countries.