this post was submitted on 27 Dec 2023
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287
Chinese Carmaker Overtakes Tesla as World’s Most Popular EV Maker (www.bloomberg.com)
submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world
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Chinese Carmaker Overtakes Tesla as World’s Most Popular EV Maker::Elon Musk once scoffed at the notion that BYD could compete with his company. Now, the automaker run by billionaire Wang Chuanfu is poised to be the new No. 1 in electric vehicles.

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[–] filister@lemmy.world 5 points 8 months ago (1 children)

And still their shares are just a fraction of Tesla's share price.

[–] Tosti@feddit.nl 19 points 8 months ago (2 children)

Company is beholden to the Chinese government, apparently that is worse than beholden to a manchid and a group of ultrarich shareholders.

[–] WhatAmLemmy@lemmy.world 11 points 8 months ago (1 children)

Rather ironically, BYD is probably closer to the "value investing" (realistic) value than most hyper-inflated western stocks, which completely decoupled from reality a long time ago...

[–] bionicjoey@lemmy.ca -2 points 8 months ago (1 children)

Regardless of value sentiment, I'd never consider investing in a Chinese stock. Too much risk that the CCP makes some big overnight change that torpedoes the price.

[–] maynarkh@feddit.nl 2 points 8 months ago

Not like that happens with US stocks.

[–] Critical_Insight@feddit.uk -3 points 8 months ago

Atleast Musk and Tesla shareholders aren't commiting a genocide so the argument could be made that it indeed is less bad.