Hyperdrive
China’s EV Stocks Are on a Tear as BYD Leads on Robust Sales
A BYD Co. Tang vehicle on sale at the company's showroom in Beijing, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Chinese electric-vehicle stocks, led by BYD Co. Ltd., emerged as a bright spot in the nation’s lackluster markets, as robust sales reports ease concerns about the global chip shortage and lure investors back into the sector.
Shares in the Shenzhen-based EV maker rose eight straight days, the longest streak in a year, before closing slightly lower on Tuesday. Still, BYD’s 14% rally this month is among the best on the CSI 300 Index, with industry peers Great Wall Motor Co. and Guangzhou Automobile Group also among the outperformers. BYD’s Hong Kong-listed stock has gained 16% in October.