BYD (ADR)

BYD said it aims to become the world's largest automaker within five years, citing advances in battery technology, fast charging and expanding overseas production. The company plans to spend about £1.8bn in Europe to build five-minute "flash" chargers and aims to sell 1.5m vehicles overseas this year. BYD will start assembly at a new plant in Hungary in Q4 and has paused work on a Turkish plant while prioritizing EU production to mitigate tariffs; it also faces local probes over construction practices and a US Pentagon designation as a security risk. » More on theguardian.com

In China BYD will cover all economic damages for one year from delivery or an OTA update in legally relevant accidents if the urban driver-assistance system Urban NOA was active and used in compliance with the rules. The pledge covers repairs, property and personal injury damages with no stated upper limit and is intended to increase use of the assistance; precise proof and exclusion rules were not disclosed. Separately BYD introduced the XUANJI A3, its own 4-nm vehicle chip (up to 2100 TOPS in triple configuration) for future Level-3/4 functions. The liability model applies only in China, and a transfer to Europe is currently unclear due to regulatory and data-protection requirements. » More on heise.de

According to Morgan Stanley, BYD's end-customer prices fell 0.3% in April compared with the previous month, with price increases for refreshed models offset by discounts on other models. The bank expects upcoming facelifts and launches such as the Great Tang to support average prices again. Overall, China's electric-vehicle sector showed mixed price movements in April, with some manufacturers reporting significant price premiums. » More on de.investing.com