Chinese EV maker BYD raises $5.6bn in share sale to drive overseas expansion

Major Chinese car brand BYD set to launch new European factory but Brexit Britain could miss out

Chinese electric vehicle giant BYD is planning to build a third factory in Europe, expanding its manufacturing footprint beyond its current projects

The car manufacturer is number one in China and number two in the world: BYD is one of the most promising Chinese electric car boosters and has big plans for the new Atto 2 in Europe as well. But the thing has a catch.

BYD raises $5.6b in share sale, largest in Hong Kong in the past four years

Chinese electric vehicle (EV) giant BYD said on Tuesday that it raised HK$43.5 billion ($5.6 billion) in a share sale, making it the largest share offering in the Hong Kong stock market in the past four years.

China lacked only one thing to be the best in everything. It is building a monster that could end up sinking its rivals. Sales of all kinds of electric vehicles rose by more than 40% in China last year, as opposed to the fall in sales of gasoline cars, according to sector data. On the other hand, the China Association of Automobile Manufacturers reports that in 2024 sales of 31.4 million vehicles were made in the world’s largest market by sales,…

Chinese EV maker BYD raises $5.6bn in share sale to drive overseas expansion

Tesla rival says follow-on Hong Kong offering is the biggest in the global automotive sector in a decade

Tesla Rival BYD Raises $5.64 Billion Through Share Placement, Wants To Use Funds For Global Domination - BYD (OTC:BYDDF), Goldman Sachs Group (NYSE:GS)

BYD Company Limited, the world's leading electric vehicle manufacturer for three consecutive years announced a significant capital raise through a placement of new H shares to fund its ambitious global expansion plans and research initiatives.