ARKK - BYD: Never Bet Against The EV Market Leader
2024-07-03 08:30:26 ET
Summary
- BYD achieves a new quarterly deliveries record in Q2.
- BYD's battery EV deliveries could surpass Tesla's performance in 2024.
- BYD has benefited from the shift in growth momentum to plug-in hybrids, expanding its market opportunity.
- BYD's valuation is much lower than TSLA's, suggesting Tesla investors need to rely more on Elon Musk's hype.
- I argue why BYD's execution capabilities and focus on out-delivering its peers could further its EV market dominance.
BYD Company: Expanding Market Leadership
BYD Company Limited ( BYDDF ) ( BYDDY ) is China's EV leader by a mile . As a result, BYD has the necessary scale and manufacturing expertise to compete in global markets, as EVs are expected to gain market share over time. In addition, BYD's dominance in the plug-in hybrid segment has afforded it significant clout in its global expansion. There were concerns in Q1 on BYD's full-year 3.6M deliveries target . However, BYD Company knocked it out of the park in Q2, as BYD's quarterly deliveries surged to a new record....
BYD: Never Bet Against The EV Market Leader