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Asia

Market Chatter: BYD Cancels Malaysia Assembly Plant Plan

BYD (HKG:1211, SHE:002594) has dropped plans to build its own assembly plant in Malaysia, Nikkei reported, citing a media briefing by managing director Jacob Ma.The carmaker is finalizing documents with an established local player that has the capacity to meet its requirements and support assembly operations, Ma said, according to the report.(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:002594
China Passenger Car Sales Slide for 11th Straight Month on Sluggish Demand
US Markets

China Passenger Car Sales Slide for 11th Straight Month on Sluggish Demand

Passenger car sales in China declined for the 11th consecutive month in August amid pressure from a cooling petroleum market and the rise of new energy vehicles.Retail sales of passenger cars fell 24% year over year to more than 1.5 million units, according to data released Tuesday by the China Passenger Car Association.The decline aligns with the CPCA's Aug. 21 forecast, which also pointed to a lack of significant improvement in consumer expectations and fundamentals.Domestic brand sales slid 19% year over year to 1.1 million units despite market share rising 4.1 percentage points to about 70%, while mainstream joint venture brand sales fell 35% to 310,000 units, and luxury car sales declined 26% to 150,000 units.New energy vehicle retail sales fell 10% to more than 1 million units during the month. However, wholesale figures rose 16% year over year, led by BYD (HKG:1211, SHE:002594) with 433,384 units, followed by Geely (HKG:0175), Chery Automobile (HKG:9973), Zhejiang Leapmotor (HKG:9863) and Tesla at fifth.Exports jumped 78% to 888,000 units, equivalent to 38% of passenger sales, while production slipped 4.5% to 2.3 million units.

Shanghai Composite^SZSEHKG:0175HKG:1211HKG:9863HKG:9973SHE:002594
Asia

Market Chatter: BYD Raises 2026 Overseas Sales Target, Sets 2.5 Million Goal for 2027

BYD (HKG:1211, SHE:002594) raised its 2026 overseas sales target to 1.9 million to 2 million vehicles from 1.5 million previously and aims to sell more than 2.5 million vehicles overseas in 2027, Bloomberg reported Tuesday, citing a Deutsche Bank Research note based on an investor briefing Monday.The automaker's overseas sales are expected to generate about 20,000 yuan in profit per vehicle, the report noted.(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:002594
Asia

Market Chatter: Mitsui Begins Exporting Indian-Made Electric Buses to Africa

Japanese trading firm Mitsui & Co (TYO:8031) began exporting EKA-brand electric vehicle buses manufactured by India's Pinnacle Mobility Solutions to Africa to compete against automakers like BYD (HKG:1211, SHE:002594), Nikkei Asia reported Monday.To meet the demand for the same and bank on low-cost production, a new plant will be built in Pithampur with an investment of 15 billion yen. The plant is estimated to double the annual production capacity to 10,000 vehicles, the report said.Buses will be assembled at partner facilities in Africa to lower tariff costs. Mitsui aims to establish assembly facilities in Ethiopia, Ghana and South Africa, while looking into establishing similar facilities in Ivory Coast and Uganda, it said.Shares of Mitsui & Co rose nearly 1% in recent trade.(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:8031
BYD's August NEV Sales Jump as Record Exports Offset China Slump
US Markets

BYD's August NEV Sales Jump as Record Exports Offset China Slump

BYD (HKG:1211, SHE:002594) sold 440,293 new energy vehicles in August, a nearly 18% increase from a year earlier, as record exports offset a drop in domestic sales.NEV exports during the month more than doubled to 189,466 units from 80,813 units a year earlier. However, domestic sales shrank to 250,827 units from 292,813 NEVs sold a year earlier.Production volume for the month rose 25% to 440,703 units as the Chinese NEV manufacturer boosted output across its entire product lineup, according to a Hong Kong bourse filing late Tuesday.Despite the August rebound, BYD's year-to-date figures remain in contraction territory, with NEV output falling 4.7% and NEV sales down 6.8%.In contrast, BYD's commercial vehicle output and sales posted double-digit growth in the first eight months of the year.The monthly figures follow BYD's interim results released last week, in which the company reported a 7% year-over-year drop in revenue to 344.8 billion yuan and a 20.5% slump in attributable profit to 12.3 billion yuan.Citing data from the China Association of Automobile Manufacturers (CAAM), BYD at the time said it had consistently led China's NEV exports in the first half."The leapfrog growth of Chinese automotive exports was fundamentally driven by the in-depth cultivation of independent brands on the electrification and intelligentization, the robust foundation of a complete industrial chain, and continuous product iteration," BYD said in its first-half earnings report.However, BYD acknowledged the sluggish demand and intensifying competition at home.Looking ahead to the second half, BYD last week said it expects the transition to NEVs to further accelerate amid high international oil prices and the trend of energy conservation and emission reduction.

HKG:1211SHE:002594
Asia

BYD's Sales, Output Rise in August

BYD's (HKG:1211, SHE:002594) sales and production for new energy vehicles in August increased year over year.Specifically, the Chinese automaker's total production moved to 440,703 from 353,090, while sales increased to 440,293 from 373,626, according to a Tuesday Hong Kong bourse filing.

HKG:1211SHE:002594
BYD's First-Half Profit Falls on Lower NEV Business, FX Losses
US Markets

BYD's First-Half Profit Falls on Lower NEV Business, FX Losses

BYD Company (HKG:1211, SHE:002594) reported a 21% decline in first-half profit attributable to shareholders, as weaker new energy vehicle (NEV) business and foreign exchange losses weighed on results.Profit attributable to shareholders fell to 12.3 billion yuan in the six months ended June 30, from 15.5 billion yuan a year earlier, while revenue declined 7% to 344.8 billion yuan, according to the company's interim report.Earnings per share fell to 1.35 yuan from 1.71 yuan a year earlier.The company said the revenue decline was mainly attributable to a decrease in its NEV business, while the decline in attributable profit was also affected by foreign exchange losses arising from exchange rate movements.BYD said its overseas business remained a core growth driver in the first half, with its NEV business footprint expanding to 121 countries and regions across six continents.The automaker is also expanding localized production and logistics capacity overseas. Its factories in Brazil and Thailand are already operating, and its owned overseas fleet comprises eight roll-on/roll-off vessels.Looking ahead, BYD said it expects overseas expansion to remain an important support for sales.It plans to deploy 6,000 flash-charging stations overseas and continue increasing production capacity for its second-generation blade battery and flash-charging technologies.The company also expects AI-related opportunities to provide new growth engines. In its electronics business, several server models achieved bulk shipments in the first half, while its latest liquid-cooling products for a major overseas customer entered the production ramp-up phase.BYD plans to expand its AI computing infrastructure business across servers, liquid cooling, high-voltage power supply, and high-speed connectivity.

HKG:1211SHE:002594
Asia

BYD's Profit Falls 21% in H1

BYD's (SHE:002594, HKG:1211) attributable profit in the first half of 2026 fell 20.5% to 12.3 billion yuan from 15.5 billion yuan in the year-ago period, a Friday filing with the Hong Kong bourse said.Earnings per share for the automobile manufacturer slipped to 1.35 yuan from 1.71 yuan in the corresponding period of the previous year.Operating revenue fell 7.1% to 344.8 billion yuan from 371.3 billion yuan a year prior.

HKG:1211SHE:002594
Asia

ComfortDelGro's Zig to Expand Vehicle Fleet with BYD EVs, Hybrids

ComfortDelGro's (SGX:C52) Zig mobility platform will invest more than SG$10 million to expand its private hire vehicle fleet with BYD (HKG:1211, SHE:002594) electric and hybrid vehicles, according to a Thursday statement.The company's shares rose more than 1% in Friday trading.The new fleet will include fully electric and hybrid models, including the BYD SEAL 6 DM-i and BYD M6, the statement said.

HKG:1211SGX:C52SHE:002594
Asia

China-Made Passenger EV Sales Rise 23% in July, CPCA Says

Chinese electric passenger vehicle sales rose 23% year over year to about 1.5 million units in July as oil prices continue to rise due to the conflict in the Middle East, according to data from the China Passenger Car Association released Tuesday.BYD (HKG:1211, SHE:002594) logged the highest sales volume of 411,702 units during the month, followed by Geely Automobile (HKG:0175) at 158,145, and Chery Automobile (HKG:9973) at 122.082 units.Zhejiang Leapmotor (HKG:9863) logged sales of 101,267 units, while Tesla came in at fifth with 93,759 units.

Shanghai Composite^SZSEHKG:0175HKG:1211HKG:9863SHE:002594
Asia

Market Chatter: BYD Launches First Brazil-Made Plug-In Hybrid Flex Vehicle

BYD (HKG:1211, SHE:002594) launched its first Brazil-made plug-in hybrid flex-fuel vehicle, Reuters reported Tuesday, citing an interview with Senior Vice President Alexandre Baldy.The Song Pro Super-Hibrido Flex Fuel is set to go on sale at dealerships across Brazil on Aug. 5. The vehicle can run on electricity, gasoline, or ethanol, according to the report.It is manufactured at BYD's Camacari plant in Bahia state and meets the company's target of sourcing over 50% of its components locally for Brazilian-made vehicles by January 2027, 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.)

HKG:1211SHE:002594
Asia

BYD's Sales, Output Rise in July

BYD's (HKG:1211, SHE:002594) sales of new energy vehicles rose to 419,211 units in July, while production increased to 420,249 vehicles, according to a Sunday Hong Kong bourse filing.Passenger vehicle sales rose to 411,072 units from 341,030 a year earlier, with battery electric vehicle (BEV) sales increasing 31% to 233,105 units and plug-in hybrid electric vehicle (PHEV) sales rising 9% to 177,967 units.Commercial vehicle sales climbed to 8,139 units from 3,266.For the first seven months of 2026, the Chinese automaker's sales and production declined by 11% and 9% year over year, respectively.

HKG:1211SHE:002594
China's EV Manufacturers Report Strong July Sales, Led by Leapmotor's 102% Surge
US Markets

China's EV Manufacturers Report Strong July Sales, Led by Leapmotor's 102% Surge

Most Chinese electric-vehicle manufacturers reported higher deliveries in July versus a year earlier, led by Zhejiang Leapmotor Technology (HKG:9863), which saw its sales double from a year earlier.Stellantis-backed Leapmotor delivered 101,267 vehicles globally in July, up 102% year over year, exceeding the 100,000-unit mark in a single month for the first time.Deliveries in the first seven months of the year totaled 457,754 units, up 68.4% and achieving about 46% of its full-year target of 1 million.BYD (HKG:1211, SHE:002594) sold 419,211 new energy vehicles in July, up 21.8% from 344,296 a year earlier, according to a Hong Kong bourse filing on Sunday. The company exported 180,538 NEV units during the month.XPeng (HKG:9868) delivered 38,027 vehicles globally in July, up 4% year over year, the company said in a press release on Saturday. Cumulative deliveries surpassed 1.2 million units as of July 31.Li Auto (HKG:2015) sold 30,468 vehicles in July, with cumulative deliveries reaching 1.8 million as of July 31, the company said in a bourse filing on Sunday. While the company did not mention year-over-year growth, data from July 2025 shows that latest deliveries rose 0.86% from the 30,731 vehicles sold last year.NIO (HKG:9866, SGX:NIO) delivered 35,934 vehicles in July, up 71% from a year earlier. The sales consisted of 20,008 vehicles from its namesake NIO brand, 10,155 vehicles from its ONVO brand, and 5,771 units from its FIREFLY brand. Cumulative deliveries reached 1.2 million units.Geely Automobile (HKG:0175) sold 250,161 vehicles in July, up 5% from a year earlier. Exports surged 202% to 106,663 units from 35,272 units.The company's Zeekr brand saw sales jump 111% to 35,837 units from 16,977 units last year. Lynk & Co deliveries, however, plunged 40% to 16,382 units.However, overall NEV sales at home are expected to have fallen to 980,000 units in July from the previous month amid a seasonal slowdown, CnEVPost reported, citing data from the China Passenger Car Association.July is a traditionally slow season for auto sales in China as high temperatures and heavy rain and flooding in some regions affect showroom traffic and deliveries, according to CnEVPost.

HKG:0175HKG:1211HKG:2015HKG:9863HKG:9866HKG:9868SGX:NIOSHE:002594
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.)

HKG:1211SHE:002594
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.

HKG:1211SHE:002594
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.

HKG:1211SHE:002594
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.

HKG:1211SHE:002594
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

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