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Asia

Market Chatter: BYD Launches Mini-Car Racco in Japan

BYD (HKG:1211, SHE:002594) launched Racco, its electric kei mini-car in Japan on Tuesday, Reuters reported the same day.The entry-level car can be purchased for less than 2 million yen post-taxes and government subsidies, according to the automaker.The company is looking to bag 10,000 orders for the car by year-end, Reuters said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

BYD to Pay Out Nearly 3.3 Billion Yuan in Dividends

BYD (HKG:1211, SHE:002594) will pay out dividends of 3.26 billion yuan under its 2025 profit distribution plan, according to a Friday disclosure to the Shenzhen Stock Exchange.The electric car giant declared a dividend of 3.58 yuan per 10 shares to A shareholders on record as of July 30.The ex-rights and ex-dividend dates are set for July 31.

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Asia

Shanghai Holds Auto Industry Compliance Meeting to Tackle Online Info Dissemination

Shanghai's cyberspace administration, alongside economic, commerce, market regulation and police authorities, held a compliance guidance meeting on Tuesday as part of a special campaign to regulate online information dissemination in the automotive sector.Representatives from 15 automakers including SAIC (SHA:600104), Tesla, BYD (HKG:1211, SHE:002594), Xiaomi (HKG:1810), XPeng (HKG:9868), NIO (HKG:9866, SGX:NIO), and Li Auto (HKG:2015) attended, alongside over 80 major dealer groups and platforms like Xiaohongshu, Bilibili (HKG:9626) and Hupu, according to a Wednesday statement.Officials outlined key governance areas and regulatory requirements. The market regulator detailed pricing compliance guidelines covering manufacturing to sales.

Shanghai Composite^SZSEHKG:1211HKG:1810HKG:2015HKG:9626HKG:9868SGX:NIOSHA:600104SHE:002594
Update: Hungary Probes BYD Investment After Ex-Foreign Minister Takes Job at Carmaker
US Markets

Update: Hungary Probes BYD Investment After Ex-Foreign Minister Takes Job at Carmaker

(Updates throughout for clarity and to add a statement from Hungary's Government Communications Office and to correct reference to the date of BYD's electric trucks announcement)Hungary has launched an investigation into state support for BYD's (HKG:1211, SHE:002594) investment after former Foreign Minister Péter Szijjártó left the government to join the Chinese automaker as an executive.Prime Minister Péter Magyar told lawmakers on Monday that authorities will review decisions, negotiations and state commitments related to BYD's investment approved during the previous government. The probe will examine subsidies, tax breaks, permits, environmental exemptions and publicly funded infrastructure provided for the Chinese automaker.Magyar alleged that Szijjártó helped BYD expand in Hungary with "hundreds of billions" of forints in public funding, diplomatic backing and state infrastructure while in office."We will examine all the decisions, negotiations and state commitments made by Péter Szijjártó that were related to the BYD Hungary investment," the Associated Press quoted Magyar as saying. "We will investigate who made these decisions, who prepared them, what professional warnings were ignored, and how much burden they left on Hungarian taxpayers, workers, local communities and the environment."BYD did not immediately respond to' request for comment, while Hungary's Communications Office declined and said it is "unable to provide any additional information or copies of internal communications while administrative reviews are ongoing."Szijjártó announced his resignation from parliament July 15 to join BYD. His post on Facebook described the new role as a prestigious opportunity to work for one of the automotive industry's biggest success stories.While serving in government, the AP reported that Szijjártó, who was appointed to lead the Ministry of Foreign Affairs and Trade in September 2014, played a key role in attracting Chinese investment to Hungary.Previous announcements show that in May 2025, BYD secured state support worth 20 billion forints after it picked the capital city of Budapest for its European headquarters and for a research and development center. A month later, BYD also unveiled a 75.7 million-euro investment to expand its electric bus factory in Komárom to manufacture electric trucks.BYD's first passenger vehicle plant on the European continent is also being built in Hungary, as announced in 2023. BYD Executive Vice President Stella Li told Reuters in June 2026 that the facility will start production within the year, which is about a year later than expected."Hungary is the number one priority right now," Li told the news outlet then. The executive added that the automaker was prioritizing production in Europe and that work on a planned factory in Turkey has been put on hold.Reuters also noted that BYD's sales in Europe surged 270% in 2025 to nearly 188,000 vehicles, while sales rose 144% year to date through May to more than 100,000 units.

HKG:1211SHE:002594
Hungary Probes BYD Investment After Ex-Foreign Minister Takes Job at Carmaker
US Markets

Hungary Probes BYD Investment After Ex-Foreign Minister Takes Job at Carmaker

Hungary has launched an investigation into state support for BYD's (HKG:1211, SHE:002594) investment after former Foreign Minister Péter Szijjártó left government to join the Chinese automaker as an executive.Prime Minister Péter Magyar told lawmakers on Monday that authorities will review decisions, negotiations and state commitments related to BYD's investment approved during the previous government.The probe will examine subsidies, tax breaks, permits, environmental exemptions and publicly funded infrastructure provided for the Chinese automaker.Magyar alleged Szijjártó helped BYD expand in Hungary with "hundreds of billions" of forints in public funding, diplomatic backing and state infrastructure while in office."We will examine all the decisions, negotiations and state commitments made by Péter Szijjártó that were related to the BYD Hungary investment," the Associated Press quoted Magyar as saying.He added the investigation would examine whether professional warnings were ignored and what costs the projects imposed on taxpayers, workers, local communities and the environment.BYD and Hungary's Prime Minister's Office did not immediately respond to' requests for comment.Szijjártó, who resigned from parliament last week to join BYD, has described his new role as a prestigious opportunity to work for one of the automotive industry's biggest success stories.The probe comes as BYD has rapidly expanded its footprint in Hungary, making the country the centerpiece of its European manufacturing and research strategy.While serving in government, Szijjártó played a key role in attracting Chinese investment to Hungary, including BYD's first European passenger vehicle plant in Szeged, announced in 2023.The factory, which BYD has said will begin assembling vehicles in the fourth quarter of this year, is the company's first passenger car manufacturing plant in Europe.In 2025, Szijjártó also announced that BYD would establish its European headquarters and a research and development center in Budapest with 20 billion forints in government support.The headquarters is expected to create about 2,000 high-value jobs and serve as the hub for BYD's European sales, after-sales services, vehicle certification, testing and localized vehicle development.On June 27, BYD announced a 75.7 million euro investment to expand its electric bus factory in Komárom to manufacture electric trucks, creating 620 jobs.The project will triple the plant's annual production capacity to 1,250 buses and trucks, further expanding BYD's manufacturing footprint in Hungary."Hungary is the number one priority right now," BYD Executive Vice President Stella Li told Reuters in June, adding that the automaker was prioritizing production in Europe as it paused work on a planned factory in Turkey.BYD's sales in Europe surged 270% in 2025 to nearly 188,000 vehicles, while sales rose 144% year to date through May to more than 100,000 units.Expanding production in Hungary would also help the Chinese automaker avoid European Union tariffs on electric vehicles imported from China.Although BYD announced plans in 2024 to invest $1 billion in a vehicle plant in Turkey, Li said construction has not started, and the project remains on hold with no timeline for production, according to a Reuters report.The investments form part of Hungary's strategy to become a European hub for electric vehicle and battery manufacturing by attracting Chinese automakers and battery producers.The policy has drawn criticism from opposition politicians, environmental groups and local communities over concerns about public spending, environmental risks and the country's growing economic dependence on China.

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Asia

BYD Signs Three-Year Automotive Partnership With Football Club PSG

BYD Company (HKG:1211, SHE:002594) has been named as the official automotive partner of Paris Saint-Germain under a three-year agreement, according to a Thursday press release.The partnership will feature global marketing campaigns, exclusive content with the club's men's and women's teams, fan engagement initiatives, and events.BYD and its premium brand, Denza, will also supply vehicles to support Paris Saint-Germain's operations, the statement said.

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Asia

Market Chatter: BYD Looking to Dethrone Toyota Even Without US Market, Executive Says

BYD (HKG:1211, SHE:002594) is looking to dethrone Toyota (TYO:7203) as the world's largest car manufacturer by sales within five years even without the help of the U.S. market, the Financial Times reported Wednesday, citing its interview with Stella Li, the chief of BYD's international operations.The Shenzhen-based car manufacturer is looking to boost sales through a pivot to Europe, where electric vehicles could gain heftier margins compared with China, the report said, citing Li.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:1211SHE:002594TYO:7203
Asia

Chinese Passenger Car Sales Fall 23% in June

Chinese retail sales of passenger cars slid 23.2% to 1.6 million units in June, the China Passenger Car Association said in a Wednesday press release.New energy vehicle sales fell 9% during the month, with domestic brands slipping 11%, mainstream joint venture-made NEVs plunging 45%, and luxury brands declining 11%.Retail sales of gas-powered vehicles plunged 39% year over year, with pure gasoline vehicle sales falling 42% and conventional hybrids slipping 7%.Vehicle exports surged 82% to 877,000 units in June, with 56.9% of the figure coming from NEVs.Production fell 2.7% year over year to 2.3 million units.China's biggest local automakers include Dongfeng Motor Group (HKG:0489), SAIC Motor (SHA:600104), Chongqing Changan Automobile (SHE:000625), BAIC Motor (HKG:1958), Guangzhou Automobile Group (SHA:601238, HKG:2238), Great Wall Motors (SHA:601633, HKG:2333), Chery Automobile (HKG:9973), and FAW Group (SHE:000800).Top new-energy vehicle manufacturers include BYD (SHE:002594, HKG:1211), Li Auto (HKG:2015), XPeng (HKG:9868) and NIO (HKG:9866, SGX:NIO).

Shanghai Composite^SZSEHKG:0489HKG:1211HKG:1958HKG:2015HKG:2238HKG:9866HKG:9868HKG:9973SGX:NIOSHA:600104SHA:601238SHE:000625SHE:000800SHE:002594
Asia

Sales of Chinese NEVs Rise 22% in June, CPCA Says

Sales of Chinese new energy vehicles rose 22% year over year to more than 1.5 million units in June, according to preliminary figures from the China Passenger Car Association released Thursday.The increase was attributable to higher oil prices, improved supply conditions and stronger exports, the association said.BYD's (HKG:1211, SHE:002594) sales reached 397,292 units, topping the association's list.Geely's (HKG:0175) sales were at 158,849 during the period, while Chery Automobile's (HKG:9973) were at 106,900.Tesla's sales reached 89,091 units during the period.

Shanghai Composite^SZSEHKG:0175HKG:1211HKG:9973SHE:002594
BYD Leads China NEV Sales in June
US Markets

BYD Leads China NEV Sales in June

BYD (HKG:1211, SHE:002594) led June's new energy vehicle sales as demand for such vehicles continues to surge abroad, even as domestic expansion faces distinct retail headwinds.BYD recorded the highest number of sales among Chinese NEV makers, selling 403,472 units during the month, up 5.46% from a year earlier. The carmaker's momentum was buoyed by its overseas performance, where passenger exports nearly doubled year over year to a record 174,897 units, offsetting a cool domestic retail market.Meanwhile, Zhejiang Leapmotor Technology (HKG:9863) and Nio (HKG:9866, SGX:NIO) recorded significant increases in their global deliveries, jumping 95% and 62.9% year over year, respectively, to deliver 93,376 units and 40,597 units.Leapmotor's numbers were boosted by its extended-range hybrid lineup, while Nio's deliveries were split across its luxury brand and its emerging sub-brands.SAIC Motor (SHA:600104) maintained strong overall volume, with group-wide sales reaching 395,000 units in June, up 8.1% from the previous year. Sales were boosted by electrification across the company's portfolio. Monthly NEV-specific sales 66.6% year over year to hit 201,000 units.Meanwhile, Geely Automobile's (HKG:0175) NEV sales climbed 2% year on year to 240,799 units, while those of Chery Automobile (HKG:9973) rose 9.5% to 240,585 units.Meanwhile, XPeng (HKG:9868) sold 40,126 vehicles during the month, bringing deliveries in the second quarter to 103,295 units. The carmaker plans to launch and presale a new model, XPENG MONA L03, on Thursday.Li Auto (HKG:2015) delivered 30,895 NEVs in the same month, bringing 1.7 million units into sale as of the end of June. The automaker said it surpassed 150,000 units in cumulative production after introducing a new flagship SUV, Li L8, on June 23.The number in NEV exports rose, but analysts from S&P Global said it is not enough to lift the slumping domestic demand.On a June 15 note, the ratings firm predicted NEV domestic sales to drop by 7% year on year to 25.4 million units in June as demand slowed down due to a reduction in trade-in and NEV purchase tax incentives."While mainland China automakers have been praised for their speed to market and ability to rapidly update products and technology, this frenetic cycle has a downside," S&P Global said. "The pace of model updates from mainland OEMs is causing some consumers to delay purchases, waiting for better deals both technologically and financially."

HKG:0175HKG:1211HKG:2015HKG:9863HKG:9866HKG:9868HKG:9973SGX:NIOSHA:600104SHE:002594
Asia

Update: South Korean Automakers to Recall Vehicles to Fix Defects

Six automakers have decided to recall more than 146,000 vehicles in South Korea to fix defective components, according to the Korean transport ministry on Thursday.Hyundai Motor (KRX:005380), BYD's (HKG:1211, SHE:002594) Korean arm, Mercedes-Benz Korea, and three other automakers will be recalling 146,505 vehicles across 38 models.

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Asia

Market Chatter: BYD to Soon Decide on Acquiring Existing Car Factory in Europe

Chinese electric car manufacturer BYD Company (HKG:1211, SHE:002594) is close to deciding on the acquisition of an existing European automobile manufacturing plant to act as a catalyst for expansion in the region, according to a Reuters report on Wednesday, quoting BYD's special adviser for Europe, Alfredo Altavilla.The company is looking at Spain and France for brownfield investments and acquiring ​an existing factory from a traditional automaker, Altavilla said in a Reuters conference in Frankfurt, adding that a decision was expected soon.If the acquisition materializes, it would give BYD a second European assembly site ​after Hungary, which is due to start production in the fourth quarter, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

BYD's Sales, Output Rise in June

BYD's (HKG:1211, SHE:002594) sales of new energy vehicles rose to 403,472 units in June, while production jumped to 403,246 vehicles.For the first half of 2026, the Chinese automaker's sales and output slipped 16% and 15% year over year, respectively, to 1.8 million vehicles each, according to a Wednesday filing.

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Asia

Market Chatter: Top Chinese Battery Makers Absent from Japan's Security Certification

None of China's major battery makers have received Japan's cybersecurity approval yet, despite an upcoming 2027 mandate requiring grid-connected storage equipment, Nikkei Asia reported on Wednesday.The certification process, managed by the Ministry of Economy, Trade and Industry and the Innovation Platform Agency, requires companies to submit checklists verifying basic security compliance, the news daily said.While rivals such as Tesla and SMA Solar already appear on the certified list, prominent Chinese firms, including Sungrow (SHE:300274), Huawei, BYD (HKG:1211, SHE:002594), and Contemporary Amperex Technology or CATL (SHE:300750), remain absent from the registry as of this week, the publication said.Sungrow, Huawei, BYD, and CATL didn't immediately reply to MTNewswire's request for comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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After WuXi AppTec, Alibaba Sues Pentagon to Contest Chinese Military Company Designation
US Markets

After WuXi AppTec, Alibaba Sues Pentagon to Contest Chinese Military Company Designation

Alibaba Group (HKG:9988) has sued the US Department of Defense on Tuesday, seeking to overturn its designation as a "Chinese military company" and accusing the Pentagon of acting without factual basis or fair process in branding it as a threat to national security.The lawsuit was filed in the US District Court for the Northern District of California in San Jose, also naming Secretary of Defense Pete Hegseth, Deputy Secretary Stephen Feinberg, and Assistant Secretary for Industrial Base Policy Michael Cadenazzi as defendants."The determinations have no basis in fact or law... To label Alibaba a 'Chinese military company' is to brand it an instrument of the Chinese military and a threat to US national security," Alibaba wrote.The Pentagon added Alibaba and several other Chinese companies to its Section 1260H list on June 8, tagging the e-commerce and tech company as "a military-civil fusion contributor to the Chinese defense industrial base because it is affiliated with" the Ministry of Industry and Information Technology.Prior to the lawsuit, Alibaba had denied this designation, calling it "a mistake," according to a June 9 Hong Kong bourse filing."There is no basis to conclude that Alibaba Group should be placed on the CMC List. Alibaba Group is not a Chinese military company nor part of any military-civil fusion strategy."Alibaba at the time warned that it would "take all available legal action against attempts to misrepresent the company."In its lawsuit, Alibaba said it is owned by a broad, public shareholder base, and since early 2025, the only investors to hold 5% or more of its stock are three American financial institutions: JPMorgan, Citigroup, and BlackRock."No individual shareholder controls the company, and no state-owned entity has ever controlled the company," Alibaba argued.The company also stressed that it "has no affiliation with MIIT, SASAC, or the [People's Liberation Army]."SASAC, or the State-owned Assets Supervision and Administration Commission, acts as the state's investor and manages the country's non-financial state-owned enterprises.Alibaba's complaint also noted that it held talks with the Department of Defense prior to the designation. Alibaba said it met with Pentagon officials on Jan. 21 to present information and answer any concerns.The company said it then submitted additional evidence on Jan. 30, detailing its longstanding cooperation with the US government, including a letter from the Director of the National Intellectual Property Rights Coordination Center, part of the US Department of Homeland Security.However, on Feb. 13, the Pentagon posted an updated 1260H list, designating Alibaba as a Chinese military company before withdrawing it within an hour, citing a need to review "the most recent information available."Alibaba said the Department declined to disclose to the company what information it was relying on.Starting June 30, 2026, the Pentagon will be prohibited from "enter[ing] into, renew[ing], or extend[ing] a contract for the procurement of goods, services, or technology" from companies on the designated list.Effective June 30, 2027, the ban extends to the procurement of goods or services that "include goods or services produced or developed by" companies on the list.A spokesperson for the Pentagon declined to comment to, saying the Department does not comment on ongoing litigation.China's Ministry of Commerce had already threatened to retaliate after the Pentagon added Alibaba, Baidu (HKG:9888), BYD (HKG:1211, SHE:002594), Nio (HKG:9866), WuXi AppTec (HKG:2359, SHA:603259) and Robosense Technology (HKG:2498) to the list.The updated list supersedes an earlier version from January 2025, and reinstated ChangXin Memory Technologies and Yangtze Memory Technologies on the list after they were withdrawn from the February version. Both companies are among China's leading memory chipmakers and are currently pursuing public listings.Alibaba is not the first Chinese company to contest the 1260H designation. WuXi AppTec filed its own suit against the Pentagon on June 11, describing its inclusion as "the product of political pressure."In January 2021, Xiaomi (HKG:1810) also sued the US after it was designated as one of several "Communist Chinese military companies" (CCMC) under the National Defense Authorization Act of 1999.The smartphone maker was then removed from the list in May 2021, with the US District Court for the District of Columbia issuing a final order vacating the Pentagon's designation of Xiaomi as a CCMC.Alibaba has also asked the court in California to vacate the designation as "arbitrary and capricious."

HKG:1211HKG:1810HKG:2359HKG:2498HKG:9866HKG:9888HKG:9988SHA:603259SHE:002594
Asia

Market Chatter: Chinese Auto Majors Exploring Plans to Produce in Canada via JVs

China's BYD (HKG:1211, SHE:002594) and Chery Automobile (HKG:9973) are considering plans to produce electric vehicles in Canada via joint ventures with local partners, Bloomberg reported Monday, citing a Canadian minister.Geely Automobile's (HKG:0175) parent Zhejiang Geely and Shanghai Launch Automotive Technical are also considering similar plans, Canadian Industry Minister Melanie Joly reportedly said.The plans would help the major Chinese auto manufacturers use Canada's low-tariff quota of about 6% for their electric vehicles.BYD, Geely, Chery Automobile, and Launch Automotive did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0175HKG:1211HKG:9973SHE:002594
Asia

China Bars 46 More US Companies in Expanded Crackdown

China has expanded its restrictions against U.S. companies, banning 46 more firms, including Lockheed Martin and Raytheon Missiles & Defense, from government procurements, the Ministry of Finance announced Monday.The measure halts government purchases of these companies' products and exempts them from operating in China.The updated list also includes subsidiaries of Lockheed Martin and Raytheon, as well as General Atomics Aeronautical Systems and Boeing Defense, Space & Security, among others.The move builds on a separate crackdown earlier on Monday, when the Ministry of Commerce blacklisted 10 US tech and defense firms, including Aveox, Red Cat Holdings, and Teal Drones.The development follows the Trump administration's military designation on Chinese tech firms, including Alibaba (HKG:9988), Baidu (HKG:9888), BYD (HKG:1211, SHE:002594), and Nio (HKG:9866, SGX:NIO).

Shanghai Composite^SZSEHKG:1211HKG:9866HKG:9888HKG:9988SGX:NIOSHE:002594
Asia

Market Chatter: BYD Denies Claims It Violated Hungary Environmental Rules

BYD (HKG:1211, SHE:002594) said its legal team would respond to allegations that it violated environmental rules in Hungary during the construction of its first European factory, Bloomberg reported, citing a company senior official.Executive Vice President Stella Li said the claims are false when asked about the allegations, according to the report.The Chinese carmaker is currently under investigation over claims that it moved toxic soil from its construction site in the southern city of Szeged to an outside location, Bloomberg said.BYD did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Beijing Slams US for 'Military' Designation of Large Chinese Firms

China's Commerce Ministry expressed "strong dissatisfaction and firm opposition" to the U.S. government's action to include several large Chinese firms on a list of those aiding its military, it said Saturday.The statements come after the U.S. Defense Department named Chinese companies such as Alibaba (HKG:9988), Baidu (HKG:9888), and BYD (HKG:1211, SHE:002594), and Nio (HKG:9866, SGX:NIO) as supporters of the People's Liberation Army.Beijing called on Washington to stop its "erroneous practices" and provide non-discriminatory treatment to Chinese firms.

Shanghai Composite^SZSEHKG:1211HKG:9866HKG:9888HKG:9988SGX:NIOSHE:002594
Asia

Chengxin Raises Related-Party Transaction Amounts for 2026; Shares Down 3%

Chengxin Lithium (SHE:002240) raised the estimated transaction amounts with its related parties for the year, according to a Shenzhen bourse filing on Saturday.The lithium company's shares fell 3% during Monday's morning trade.The estimated amounts for Huayou Holding, CALB Group (HKG:3931) and BYD (HKG:1211, SHE:002594) were increased to 4 billion yuan from 3 billion yuan each.Meanwhile, the estimated transactions for Langsheng New Energy and Langsheng New Material were increased to 2 billion yuan from 1 billion yuan.

HKG:1211HKG:3931SHE:002240SHE:002594

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