Can an automaker be among the most valuable ones without having a global presence? In times like these, in which Lucid is worth more than Ford, and Rivian more than GM, that is not so absurd. However, BYD reached a significant milestone: its market cap is now higher than that of Volkswagen and only below Tesla’s and Toyota’s.
As Yicai Global stresses, it happened just days after the German carmaker got back its market position from Rivian. The American EV maker shares dropped with news that it would no longer work with Ford on joint products. That took Volkswagen back to third place, even if it was in second before Tesla reached the leadership in market cap. Volkswagen’s plan must be to get back to its former position or improve enough to be the first one day. But BYD will not make it easy for the German company.
The Chinese automaker is a highly verticalized company that produces most of its core components, from batteries to semiconductors. That must have helped it not be so affected by the global shortage and increase its sales to a point that reflected in its shares.
Curiously, BYD is only present in China and a few other markets such as Norway and a few countries in Latin America. It seems that has been more than enough for its market cap to increase, especially considering China is the largest car market in the world. However, the e-platform 3.0 aims to make that change rapidly.
BYD already announced it would sell the Han and the Tang in Brazil, for example. It also intends to sell the Dolphin in Europe and other countries as soon as production allows it to plan a more aggressive expansion abroad. When that happens, Toyota may become the third most valuable car company globally by giving BTD the second place it now occupies. And that is just the beginning.
Selling an affordable electric car with LFP batteries that can last 1.2 million kilometers (745,645.4 miles) and be fast-charged thanks to its 800V system may bring electrification to the masses. That will mean high sales volumes and an even brighter stock valuation for the Chinese carmaker. Many electric car companies promise fantastic things, but BYD may be the closest one to deliver them. Make sure you do not miss how this whole story unfolds.
The Chinese automaker is a highly verticalized company that produces most of its core components, from batteries to semiconductors. That must have helped it not be so affected by the global shortage and increase its sales to a point that reflected in its shares.
Curiously, BYD is only present in China and a few other markets such as Norway and a few countries in Latin America. It seems that has been more than enough for its market cap to increase, especially considering China is the largest car market in the world. However, the e-platform 3.0 aims to make that change rapidly.
BYD already announced it would sell the Han and the Tang in Brazil, for example. It also intends to sell the Dolphin in Europe and other countries as soon as production allows it to plan a more aggressive expansion abroad. When that happens, Toyota may become the third most valuable car company globally by giving BTD the second place it now occupies. And that is just the beginning.
Selling an affordable electric car with LFP batteries that can last 1.2 million kilometers (745,645.4 miles) and be fast-charged thanks to its 800V system may bring electrification to the masses. That will mean high sales volumes and an even brighter stock valuation for the Chinese carmaker. Many electric car companies promise fantastic things, but BYD may be the closest one to deliver them. Make sure you do not miss how this whole story unfolds.