BYDDY News & Events

Geely Auto blogged in part, earlier, on Monday: "Geely Auto (GELYF) announced its breakthrough 2024 annual sales of 2.17M units, marking a 32% year-on-year increase. The international business posted a record high of 403,923 units exported, a 53% surge compared to last year's performance. In 2024, Geely Auto significantly expanded its global footprint to 80+ countries and regions, entering 10+ new markets while solidifying its presence in existing markets like Middle East, Eastern Europe, and Latin America. This strategic expansion was further amplified by the successful introduction of 16 models across 40+ countries and regions, demonstrating Geely's commitment to providing high-value vehicles and exceptional customer experiences to a diverse global audience....Geely Auto's global sales and service network expanded significantly, reaching approximately 900 locations - a 69% increase from the end of 2023. The company also amplified its regional operations by building 2 factories in Asia and Africa, and establishing 4 new subsidiaries in Indonesia, Australia, Philippines and Chile to enhance local market access. To optimize supply chain, a state-of-the-art global parts network was established, supported by a central hub and 5 strategic overseas facilities." The Fly notes that other companies in the space include: Nio (NIO), BYD (BYDDF), Li Auto (LI) and XPeng (XPEV).

Even as China builds out its EV infrastructure around the world, to sidestep harsh tariffs on Chinese exports, the country is urging its domestic electric vehicle companies to export so-called knock-down kits to their foreign plants." writes Bloomberg. This measure by the government would require vehicle makers produce "key parts of a vehicle " in China and then send them " for final assembly in their destination market," added Bloomberg's Linda Lew. companies that may be ipacted by this include: Nio (NIO), Li Auto LI(LI), BYD (BYDDF) , Canoo (GOEV) Nikola (NKLA) XPeng (XPEV) and Tesla (TSLA) .