Supplying batteries for Tesla and entering the top three global car companies in terms of market value, BYD is about to "float" again

On June 8, it was reported that Lian Yubo, executive vice president of BYD Group and president of the Automotive Engineering Research Institute, revealed in an interview with CGTN host Kui Yingchun that BYD will provide battery products for Tesla.It is reported that this is the first time that BYD has confirmed the cooperation between the two companies.

Since last year, rumors that BYD will supply batteries to Tesla have appeared frequently on the Internet.As early as last August, there were media reports that BYD will supply "blade batteries" to Tesla in the second quarter of this year, and Tesla models equipped with "blade batteries" have entered the C-sample testing stage.At the beginning of this year, some netizens released screenshots saying that Tesla has officially placed a purchase order for 204,000 units/year of blade batteries (model C112F) for Fudi Battery, and the mass production time is March this year.

Thinking of what BYD executives have said before - "All car brands you can think of are discussing cooperation with us", many people have had great expectations for the cooperation between the two companies in the past period of time.BYD's affirmation this time finally made the rumors come true.

Image source: Oriental Fortune Network

Driven by this positive, BYD's share price continued to maintain a growth trend at the opening today.As of 10:45 a.m. on the 8th, BYD's share price was reported at 319.32 yuan. According to companiesmarketcap data, the total market value was about 128.57 billion US dollars, stable in the third position in the global car company market value ranking, second only to Tesla (742.46 billion US dollars) and Toyota ($228.44 billion), which is also BYD's return since entering the top three in November last year.

Image source: companiesmarketcap

The fourth to tenth following are Volkswagen Group, Mercedes-Benz, BMW Group, General Motors, Ford Motor, Stellantis Group, and Honda Motor, with market capitalizations of US$117.46 billion, US$78.58 billion, and US$57.73 billion. $55.95 billion, $54.25 billion, $46.83 billion, $43.77 billion.

It is worth noting that behind the surge in BYD's share price and market value, it is alsoclosely related to its outstanding performance in the field ofnew energy vehicles .According to the latest statistics, in the past May, the cumulative sales of BYD's new cars reached 114,943 units, a year-on-year increase of 148.28%, a record high, and maintained a monthly "100,000+" for three consecutive months.

So far, BYD has sold 512,363 new vehicles in the first five months of 2022, a year-on-year increase of 161.85%.Next, with BYD's continuous efforts in thenew energyvehicle market and continuous improvement of product layout, it is expected to drive BYD's overall sales to further increase.