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☆ Tesla could be volatile this week on earnings. Using options to mitigate the risk
▼ + stars: | 2024-04-22 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

I am a big fan of Tesla products and the company, but we do not currently own the stock. Since hitting its all-time high on Nov. 4, Tesla shares are the worst-performing member of the "Magnificent Seven". With prices running from about $40,000 for a single-motor version to $70,000 for a tri-motor variant, the Cybertruck's specifications were remarkable. China represents the largest market for EVs at the moment, and BYD is leading Tesla there. Among U.S. manufacturers, Tesla, because it eschews the conventional dealer model, has excellent flexibility on pricing, which they adjust dynamically.

Persons: Tesla, FSD, Warren Buffett's, Berkshire Hathaway, Charlie Munger, Elon Musk, General Motors, — Organizations: Nvidia, Elon, EVs, Ford, Toyota, South, U.S, Ford Motor, General, Tesla Locations: U.S, China, Tesla, Europe

☆ The rise of China's Tesla killer
▼ + stars: | 2024-04-20 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

Chinese automaker BYD briefly eclipsed Tesla as the world's top seller of electric vehicles. Here's how a little-known Chinese brand proved it could go toe-to-toe with an industry giant. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . For a brief moment earlier this year, the Chinese automaker unseated Tesla as the world's top seller of electric cars. Here's the story of the company that proved it could outsell Elon Musk.

Persons: BYD, Tesla, —, Elon Musk Organizations: Service Locations: China, America

☆ Elon Musk's Tesla looks set to regain its crown as the world's biggest electric carmaker as BYD sales tumble
▼ + stars: | 2024-04-02 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

It looks like Tesla is about to regain its title as the world's top electric car maker. China's BYD reported on Monday that sales plummeted more than 40% for the first three months of 2024. Elon Musk's company is set to reveal its own quarterly delivery numbers on Wednesday. The slide has caused some to question whether Musk's company deserves its spot in the "Magnificent Seven" group of mega-cap tech stocks. A drop in deliveries would cap a "nightmare quarter for Tesla," said Wedbush analysts in a research note last week.

Persons: Tesla, China's BYD, Elon, —, It's, That's, BYD, Wells Fargo, Bernstein, Warren Buffett Organizations: Elon Musk's, Service, Shenzhen Stock Exchange, BYD, Visible Alpha, Wedbush Securities, Tesla Locations: Shenzhen, Texas, Wells, Hong Kong

☆ BYD hands back top EV seller title to Tesla after Q1 sales decline
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: +2 min

BYD, China's biggest electric vehicle (EV) maker, reported first quarter 2024 sales fell 43% compared to the fourth quarter of 2023, handing back the title of world's biggest EV seller to Tesla after winning it last year. But, BYD's quarterly drop means Tesla took back the sales title based on first-quarter deliveries for Tesla of 386,810, a decline of 20.2% from the prior quarter and 8.5% from a year ago. Tesla sold 89,064 China-made vehicles in March, up 0.2% from a year earlier, data from the China Passenger Car Association showed on Tuesday. BYD reported an all-time monthly high of 341,043 units in December. Last week, BYD set a 3.6-million-unit sales target for 2024, a 20% increase from its record-breaking sales last year, Reuters reported citing sources.

Persons: Tesla, BYD, BYD's Organizations: Shenzhen Stock Exchange, China Passenger Car Association, Reuters Locations: China

☆ I drove BYD's Seal electric car and Elon Musk may be grateful you can't buy one in the US
▼ + stars: | 2024-03-29 | by ( Chris Johnston | ) www.businessinsider.com time to read: +1 min

BYD has overtaken Tesla as the world's biggest maker of electric vehicles. I drove a Seal for a week and was impressed by its stylish design, features and crazy acceleration. The Seal is a similar price to Tesla's Model 3 in the UK — but BYD is not a well-known make. AdvertisementLast year BYD overtook Tesla as the world's biggest seller of electric vehicles. I borrowed a BYD Seal in Excellence trim, which also boasts all-wheel drive, for a week.

Persons: BYD, Tesla, —, It's Organizations: Tesla's, Service, Volkswagen Locations: China, London

☆ How BYD grew from battery maker to electric vehicle juggernaut, overtaking Tesla
▼ + stars: | 2024-03-26 | by ( Andrew Evers | ) www.cnbc.com time to read: +2 min

In the U.S., Tesla may be at the forefront of the electric vehicle revolution, but abroad, the carmaker has some serious competition. In the fourth quarter of 2023, BYD dethroned Tesla as the world's top EV maker, selling more battery-powered vehicles than its U.S. rival. "BYD has grown into this powerhouse in the new energy vehicle industry," CNBC's Beijing correspondent Evelyn Cheng said. By 2003, the company had pivoted to autos and has since become the top car brand in China, as well as a major producer of EV batteries. Watch the video to learn how BYD grew from battery maker to EV giant and what's next for the company.

Persons: Tesla, Warren, BYD, Evelyn Cheng, they're, Wang Chuanfu, Sam Abuelsamid, Michael Dunne, Dunne, They're Organizations: EV, Guidehouse, CNBC, U.S Locations: U.S, China, Beijing, Munich, United States, Europe, Hungary, Mexico

☆ Why a small China-made EV has global auto execs and politicians on edge
▼ + stars: | 2024-03-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

The rise of BYD and other Chinese automakers led Tesla CEO Elon Musk in January to warn that Chinese automakers will "demolish" global rivals without trade barriers. Caresoft, an engineering benchmarking and consulting firm, has already torn down one China-built BYD Seagull and is preparing to do another. Michael Wayland / CNBCThe consulting firm tore apart the BYD Seagull piece by piece to benchmark the small EV against vehicles from other startups and traditional automakers. Its initial study of the BYD Seagull found it to be efficiently and simplistically designed, engineered and executed, but with unexpected quality and anticipated reliability. Growing concernsBYD's rise comes at a precarious time for global auto industry dynamics.

Persons: It's, Terry Woychowski, Warren Buffett, —, BYD, Tesla, Elon Musk, Caresoft Bernstein, Nissan, Michael Wayland, Caresoft, simplistically, Woychowski, Mathew Vachaparampil, CNBC BYD, Stellantis —, Donald Trump, Zach Gibson, Jennifer Granholm, Republican Sen, Marco Rubio, Trump, –, GM Dong, Tang, Marin Gjaja, Gjaja, Ford, you've, Evelyn Cheng, Dylan Butts Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, U.S, General Motors, Caresoft, Alliance for American Manufacturing, Overseas, Chevrolet, Nissan Leaf, Bolt, Chicago Federal Reserve, BYD, CNBC, Cox Automotive, Seagull, Tesla, Toyota Motor, Nissan Motor, Honda Motor, Hyundai, Kia, — GM, Ford, Chrysler, U.S ., Washington , D.C, Bloomberg, Republican, North American Free Trade, Republicans, Buick, SAIC, GM, GM Dong Yue Motors Co, Detroit Locations: Shanghai, LIVONIA, Mich, –, China, Europe, Latin America, Detroit, Texas, Germany, Japan, U.S, Livonia , Michigan, America, XPENG, Mexico, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, ., Washington ,, United States, Marco Rubio of Florida, Yantai, Shandong Province

STR | AFP | Getty ImagesIn the race against Tesla for the global electric car market, Chinese automaker BYD is pushing hard overseas despite rising barriers to the U.S. market. Given policy uncertainty around Chinese EV exports to major markets like the U.S. and Europe, BYD is seeking to bolster overseas sales by moving production to regions perceived as more friendly. The U.S. has tried to support adoption of electric cars domestically, but sales penetration is well below that of China. EY predicts the electric car market in the region will grow exponentially to at least $80 billion a year in sales in the next decade. The rapid growth of BYD and other Chinese electric car companies has other automakers worried.

Persons: Tesla, BYD, Xiao Feng, Biden, it's, EY, Alvin Liu, Liu, BYD's, Sime Darby, Stella Li, Reuters BYD, Bill Russo, CNBC's, Li Organizations: AFP, Getty, Toyota, Counterpoint Research, Tesla, Sime, Americas, Reuters, Alliance for American Manufacturing, U.S Locations: Taicang Port, Suzhou, China's, Jiangsu, U.S, Shenzhen, Europe, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, China, Marklines, Southeast Asia, Singapore, Philippines, Malaysia, Mexico, Americas, North America, United States, Canada, Washington

☆ Chinese stocks are 'a risk worth taking,' asset manager says — naming 2 he likes
▼ + stars: | 2024-03-14 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

There may be a lot of caution with investing in Chinese stocks — but asset manager Jason Hsu sees opportunities to play the market. "Chinese stocks are trading at the cheapest they've ever been. The Chinese economy and stock market have been dogged by declining foreign investments and a prolonged property market slump. Hsu suggests that investors allocate around 7% to 8% of their portfolio to Chinese stocks. 'A great growth story' When it comes to the Chinese market, Hsu views state-owned food and beverage company Kweichow Moutai as good short-term play.

Persons: Jason Hsu, Hsu, Moutai, Warren Buffett, Tesla, BYD Organizations: Rayliant Global Advisors, CNBC Pro, Shanghai, Shanghai Stock Exchange, FTSE, China Consumer, Toyota, U.S, Ferrari, Hong Kong Locations: China, Japan, FTSE China, U.S, Europe, Hong Kong and New York

☆ BYD fires the latest shot in China's EV price war with 12% price cut
▼ + stars: | 2024-03-05 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +2 min

BYD, the world's top-selling EV seller, has launched a cheaper version of its Yuan Plus car. Rivals such as Xpeng and Tesla have also initiated price drops and incentives to entice buyersIt comes as EV sales have dropped in China. The price cut, which comes amid an accelerating EV price war and slowing sales in the world's biggest car market, was first reported by Reuters. As well as cornering the affordable EV market, it's also dabbling in the other end of the market with a $233,000 electric supercar. As a result, Shenzhen-based BYD is "not planning to come to the US," BYD Americas CEO Stella Li told Yahoo Finance last week.

Persons: Tesla, —, Xpeng, Elon, Warren Buffett, BYD, it's, EVs, Stella Li Organizations: Service, Reuters, China Morning Post, Auto, L6, Yahoo Finance, EV Locations: China, Weibo, America, Shenzhen, West

☆ Geely-backed car tech company takes aim at Nvidia's growing auto business
▼ + stars: | 2024-02-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Companies from Nvidia to Huawei are chasing the market for in-vehicle tech as the electric car industry booms, with Ecarx emerging as a new contender. Since 2017, Chinese car conglomerate Geely's founder and chairman, Eric Li, has been building Ecarx that provides software and chip systems for digital car cockpits and driver-assist. The company on Wednesday reported its fourth-quarter revenue surged 22% from a year earlier to $263 million. Geely's car brands, such as Lynk and Co, made up 70% of that revenue. "We can't compete with them in this area," he said, but noted there's still about 70% or 80% of the car market that doesn't need such advanced tech, and can buy simpler driver-assist tech focused on safety.

Persons: Geely, Eric Li, Jensen Huang, Orin, Li, Ecarx, Ziyu Shen Organizations: BEIJING — Companies, Nvidia, Huawei, CNBC Locations: Berlin, BEIJING

☆ BYD amps up brutal China EV price war with bigger discounts on new car versions
▼ + stars: | 2024-02-28 | by ( ) www.cnbc.com time to read: +1 min

BYD Han EV sedan is on display during the Shanghai International Automobile Industry Exhibition on April 18, 2023 in Shanghai, China. The newly launched Han sedans, available as plug-in hybrids and pure EVs, and the Tang hybrid SUV, will have a starting price that is 10.35% to 14.3% lower than previous versions, Reuters calculations showed. The automaker lowered the starting price for the Qin Plus EV and hybrid by 15% and 20%, respectively, versus price cuts of 8% and 11% respectively for the two models in 2023, Reuters calculations showed. The starting price for the Tang hybrid was unchanged last year from 2022, when BYD launched the Champion Edition of that model but the new version of Tang hybrid this year is 14% cheaper. It unveiled a sportscar U9 under the Yangwang brand on Sunday with a starting price of 1.68 million yuan ($233,353).

Persons: Tang, BYD, Tesla Organizations: Shanghai International Automobile Industry, Tang, Qin Locations: Shanghai, China

☆ Elon Musk again promises next-generation Roadster, six years after first hyping it
▼ + stars: | 2024-02-28 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Six years ago, Elon Musk hyped a next-generation Roadster, the name of Tesla's debut car from 2008. A refreshed version was never produced, but Musk is once again promising a new Roadster is on the way. "Tonight, we radically increased the design goals for the new Tesla Roadster," Musk wrote on X as part of a series of posts Tuesday night. Musk first promoted the next-generation Roadster concept in June 2018 in a series of tweets. He said at that time, "SpaceX option package for new Tesla Roadster will include ~10 small rocket thrusters arranged seamlessly around car."

Persons: Elon Musk, Musk, Tesla, Musk's, BYD, Morgan Stanley Organizations: Tesla, SpaceX, Ferrari, China Passenger Car Locations: U.S, China

☆ How Ford can challenge a powerful Chinese EV maker's potential entrance in the U.S.
▼ + stars: | 2024-02-27 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

Forget Tesla , the real competition in electric vehicles is low-cost Chinese automakers. Farley wants to be prepared even if the U.S. government were to step in to curtail Chinese automakers' access. Outlook Ford investors shouldn't be concerned in the short term since Chinese EV competitors won't enter the market overnight. To that end, a group of lawmakers has urged the White House to boost tariffs on Chinese vehicles and figure out a way to be "prepared to address the coming wave" of Chinese vehicles by way of U.S. other trading partners. The cost of production will become more efficient, resulting in a more competitive and hopefully profitable Ford EV product.

Persons: Forget Tesla, Jim Farley, BYD, Ford, Farley, —, Warren, Berkshire Hathaway, Morgan Stanley, I've, Tom Narayan, Stellantis, Narayan, Tesla, Jim Cramer, Jim, It's, RBC's Narayan, Ford's Farley, Wolfe, Jeff Windau, Edward Jones, shouldn't, Biden, Windau, doesn't bode, Jim Cramer's, Charly Triballeau Organizations: Nikkei, Wolfe Research, Ford, RBC Capital Markets, U.S, EV, Detroit, General Motors, Chrysler, Ford Blue, Ford Pro, Ford Model, CNBC, ICE, Ferrari, North, Outlook, Bloomberg, Ford EV, American EV, AFP, Getty Locations: U.S, Mexico, China, Europe, Indonesia, Hungary, Thailand, Inwood , New York

☆ Tesla rival BYD launches electric supercar that could take on Ferrari — for $233,000
▼ + stars: | 2024-02-26 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

A BYD Co. Yangwang U9 electric vehicle in Shenzhen, China, on Tuesday, Jan. 16, 2024. BYD debuted its most expensive car on Sunday, a 1.68 million yuan ($233,450) high-performance fully-electric supercar pitted against luxury gas-guzzling options offered by rivals such as Ferrari NV and Lamborghini. Photographer: Qilai Shen/Bloomberg via Getty ImagesChinese automaker BYD this weekend unveiled a new electric supercar that it says can hit speeds similar to high-end models produced by industry giants like Ferrari. The U9 supercar will be part of BYD's luxury brand Yangwang, which was only introduced last year and has launched two other vehicles. According to BYD, the U9 will be able to reach a top speed of 309.19 kilometers per hour, or 192.12 miles per hour.

Persons: BYD, Qilai Shen Organizations: Ferrari, Lamborghini, Bloomberg, Getty Images Locations: Shenzhen, China

☆ Check out Tesla rival BYD's $233K electric supercar that has Ferrari and McLaren vibes
▼ + stars: | 2024-02-26 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

BYD unveiled an electric supercar under its luxury brand YANGWANG for about $233,400. The supercar can accelerate from 0-62 mph in a little over two seconds and go up to 192 mph. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBYD unveiled its first electric supercar — and it's giving a mix of Ferrari and McLaren vibes. It's called the U9, and it's being sold for 1.68 million RMB, which is around $233,407, under BYD's high-end brand Yangwang.

Persons: BYD, —, McLaren, It's Organizations: Service, Ferrari, Control, Business

☆ Demand for BYD's cars is so nuts the company had to create its own shipping fleet to export them around the world
▼ + stars: | 2024-02-01 | by ( Lauren Steussy | Nora Naughton | ) www.businessinsider.com time to read: +1 min

The world's largest EV maker BYD is getting into the shipping business. The company has purchased its first vessel to ship cars around the world. The BYD Explorer No.1 set sail on its maiden voyage this month with 5,000 BYD cars. AdvertisementBYD, the world's biggest electric vehicle maker, isn't just hitting roads in a major way — it's hitting the open seas. The Chinese company and Tesla rival set sail in January with 5,000 cars on its first vehicle carrier, named "BYD Explorer No.1."

Persons: —, isn't, it'll Organizations: BYD, Service, Business

☆ China comes just shy of Japan as the world's largest car exporter
▼ + stars: | 2024-01-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

"In the first eleven months of 2023, auto shipments to Russia rose about six times that of 2022 in value terms." While he said it's still unclear exactly why Chinese cars are growing so quickly in Mexico, part of the reason is international automakers. Germany's Volkswagen was among the foreign car companies on track for their worst China market sales in years. Local vs. overseas marketsChinese car makers will likely increase their share of the domestic auto market to 75% by 2030, said Francoise Huang, senior economist at Allianz Trade. That would result in a nearly 40% drop in European car sales in China, she said.

Persons: Sarah Tan, Tan, Jorge Guajardo, Guajardo, it's, they've, BYD, Francoise Huang Organizations: Publishing, Getty, Ministry of Commerce, Moody's, D.C, Dentons Global Advisors, CNBC, Volkswagen, China, Allianz Trade, European Union Locations: LIANYUNGANG, CHINA, Lianyungang, Jiangsu province, China, BEIJING, Japan, Russia, Ukraine, Mexico, Belgium, Washington, U.S, Europe

☆ Why China poses a growing threat to the U.S. auto industry
▼ + stars: | 2024-01-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.

Persons: —, Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America

☆ BYD and more: AllianceBernstein names top Asian stock picks for the next 6 months, gives one over 60% upside
▼ + stars: | 2024-01-19 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

"We also believe the demand for memories will remain strong thanks to the growing demand for generative AI and more broadly for compute," the bank's analysts wrote. AllianceBernstein expects the share price of Samsung to hit 92,000 Korean Won ($68.44) in the next 12 months, giving it potential upside of 29.4%. "BYD's unparalleled cost structure and vertical integration of powertrain will enable it to achieve a dominant market share in this segment," the bank's analysts wrote. AllianceBernstein's target price of 334 Hong Kong dollars ($42.71) gives it around 61.5% upside. AllianceBernstein gave the giant a price target of $170, giving it around 33% upside.

Persons: Bernstein, Ann Larson, AllianceBernstein, Tesla, Holdings AllianceBernstein, PDD, — CNBC's Michael Bloom Organizations: Street, Samsung Electronics, SK Hynix The South, Samsung, Won, SK Hynix, Hong, Holdings, PDD Holdings Locations: Asia, China, Hong Kong

☆ Chinese EV automaker BYD will spend $14 billion developing smart car features that rival Tesla
▼ + stars: | 2024-01-17 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Chinese EV maker BYD has unveiled its new AI-powered Xuanji smart car system. It's part of a $14 billion smart car bet that includes hands-free driving. BYD passed Tesla as the world's biggest EV maker and is now chasing Elon Musk's company on AI. AdvertisementBYD has overtaken Tesla as the world's largest EV maker. The Chinese EV maker unveiled its AI–powered Xuanji smart car system at its "Dream Day" event on Tuesday as it made a big bet on artificial intelligence.

Persons: BYD, Tesla, Elon, —, it's eyeing Elon, Wang Chuanfu, Warren Buffett, Elon Musk Organizations: Elon Musk's, Service, Reuters, South China Morning, Bloomberg, Business Locations: Shenzhen

☆ Tesla now has a clear China EV competitor. What’s next for BYD?
▼ + stars: | 2024-01-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Bernstein didn't even initiate coverage of BYD until September, with an outperform rating and price target of 359 Hong Kong dollars. BYD trades in Hong Kong, and on the Shenzhen exchange in mainland China. "I'm a long observer and investor in Tesla," Ogan said. "What I think will tip BYD like the volumes tipped Tesla is when people start realizing BYD is an energy company," Ogan said. Nomura's China autos and auto parts analyst Joel Ying likes BYD with an even higher price target of 382 Hong Kong dollars.

Persons: BYD, Bernstein didn't, Warren Buffett's Berkshire Hathaway, Taylor Ogan, Ogan, Tesla, Xiao Feng, CLSA, Joel Ying, Ying, Xiaomi's SU7, That's, — CNBC's Michael Bloom Organizations: Hong, Snow Bull, Nasdaq, Elon Musk's, HK, Hesai Tech Locations: Hong Kong, Norway, Brazil, China, Shenzhen, Asia, Europe, North America, U.S, Inovance, Ningbo Tuopu

☆ BYD's five best-selling cars, including one edging out Tesla's Model Y in China
▼ + stars: | 2024-01-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

BYD's new luxury brand Yangwang is selling its first model, the U8, for more than 1 million yuan (US$160,000). While Tesla's Model Y was the best-selling purely battery-powered car in China for the six months ending in November, BYD vehicles accounted for four of the top 10 such cars sold during that time. When including hybrids, seven BYD cars made the top 10 list. That's according to China Passenger Car Association data cited by consumer information site Autohome. Here are the five best-selling BYD new energy vehicles in China, according to the data:

Persons: BEIJING — BYD, Tesla Organizations: BEIJING —, China Passenger Car Locations: BEIJING, China

☆ Harvard's president resigning means more drama for other universities
▼ + stars: | 2024-01-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the resignation of another Ivy League president and the knock-on effect it'll have on education in the US. The big storyIvy League issuesBrian Snyder/ReutersClaudine Gay's tenure as Harvard president wasn't long, but it won't be forgotten. Alan Garber, Harvard's provost and chief academic officer, will serve as interim president, the school's board announced. Gay is the second Ivy League president to step down in less than a month, following in the footsteps of former Penn president Elizabeth Magill. Harvard president Claudine Gay Kevin Dietsch/Getty ImagesGay and Magill's departures highlight the tension between businesses and prestigious universities and the former's influence over the latter.

Persons: —, Bob Marley, John Wick, Brian Snyder, Claudine Gay's, wasn't, Gay, Alan Garber, Harvard's, Elizabeth Magill, Magill, Sally Kornbluth, Bill Ackman, Claudine Gay Kevin Dietsch, Business Insider's Paul Squire, Lucas Jackson, Tesla, Goldman, Tyler Le, it's, Warren Buffett, Greta Thunberg, Florence Pugh, Mel Gibson, J.R.R, Tolkien, Eli Manning, Max Willcocks, Dan DeFrancesco, Diamond Naga Siu, Hallam Bullock, Jordan Parker Erb, Hayley Hudson, Lisa Ryan Organizations: Service, Ivy League, Business, Harvard, Ivy, Penn, Gay, MIT, GOP, Big Tech, Apple, Microsoft, Nvidia, Meta, Boston Consulting Group, Cushman & Wakefield, LinkedIn, SAP, Verizon Consumer Group, EV, Elon, Jiji Press, Japan Airlines, New York Locations: China, Jisoo, New York, San Diego, London, Edinburgh

☆ BYD beats Tesla for a second straight year after producing more than 3 million cars in 2023
▼ + stars: | 2024-01-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Arjun Kharpal | CNBCBEIJING — BYD produced more than 3 million new energy vehicles in 2023, surpassing Tesla 's production for a second straight year. Tesla said Tuesday it produced 1.84 million cars in 2023. While total production surpassed Tesla, BYD manufactured 1.6 million battery-only passenger cars and 1.4 million hybrids, putting Tesla on top for battery-only production. Stock Chart Icon Stock chart iconEven though it surpassed the 3 million mark, BYD's annual sales slightly missed CLSA's expectations for 3.05 million vehicles. BYD said it sold 3.02 million new energy vehicles in 2023.

Persons: BYD, Arjun Kharpal, Tesla, Elon, Aito, Geely, Zeekr, Nezha, Joel Ying, — CNBC's Michael Bloom Organizations: CNBC BEIJING, Elon Musk's, Monday, Overseas, CNBC, EV, China, EU Locations: Europe, Munich, Germany, China, Hong Kong, Hungary

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