The Business Times
business-time-50
HOCK LOCK SIEW

Having raced past rivals to become the world’s top EV seller, BYD’s challenge is to stay ahead

google-preferred-sourceAdd BT as a preferred source
Tay Peck Gek

Tay Peck Gek

Published Tue, Feb 6, 2024 · 05:00 AM
    • Chinese automobile maker BYD pipped US counterpart Tesla to be the top electric vehicle seller in Singapore in 2023.
    • Chinese automobile maker BYD pipped US counterpart Tesla to be the top electric vehicle seller in Singapore in 2023. PHOTO: ST FILE

    INVESTORS in BYD might be feeling like the Chinese automobile maker is at a crossroads. And perhaps rightly so.

    BYD – short for Build Your Dreams – last week posted guidance for its 2023 net profit amid a flurry of industry news about slowing demand for electric vehicles (EVs).

    The company estimated that its full-year earnings would come in at between 29 billion yuan (S$5.4 billion) and 31 billion yuan, which works out to an improvement of 74.4 per cent and 86.5 per cent year on year.

    BYDElectric vehiclesteslaHock Lock Siew

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    In the last round of bidding, the premium for Category B was S$980 more than that for Category A.

    Cat A COE rate exceeds Cat B for third time in 4 months; premiums largely down

    Some industry watchers wonder if Orchard Road can hold its own next to competing retail destinations, both global and local.

    What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future

    Those whose employers actively discourage the use of AI at work have the lowest mental health score.

    Singapore workers experiencing rising anxiety; signs of fallout from pressure to use AI

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More