BYD has hit a record-high market cap of nearly $160 billion, driven by its latest innovation in electric vehicles (EVs). The Chinese manufacturer unveiled two new models from its Dynasty family, the five-meter-long Han L executive sedan and the Tang L SUV. These vehicles feature BYD’s new “Super-e Platform,” which boasts a 1,000-volt electrical system, outpacing even the Lucid Air.
The pair can recharge their batteries in just five minutes, thanks to a 1 megawatt DC fast charging system. This rapid charging technology helps alleviate concerns about battery degradation and potential safety risks associated with high-speed charging. BYD’s Blade cells utilize iron-based LFP chemistry, which is more robust than traditional NMC cells based on nickel.
The announcement sent BYD’s U.S.-traded American Depository Receipts (ADRs) 2.6% higher, reaching a new high of $102.70 each. The company’s Shenzhen-listed stock also broke records, resulting in a market cap exceeding that of Volkswagen, General Motors, and Ford combined.
In contrast, Tesla’s stock price has been on the decline, with short sellers pocketing $16 billion from their trades. Elon Musk’s decision to prioritize humanoid robots over EVs appears to be hurting his business. The entrepreneur’s vision for an “age of abundance” relies heavily on his ability to balance multiple companies and projects.
However, even with recent losses, Tesla has seen a cumulative gain of $64.5 billion since its IPO in 2010. Short sellers have been warning Musk that his political agenda will backfire, with Lekander stating, “It’s not people with cowboy boots who buy Teslas.” Despite this, Musk remains confident, having previously boasted about outmaneuvering short sellers like Bill Gates.
Source: https://fortune.com/2025/03/18/elon-musk-tesla-short-sellers-payday-byd-hits-record-high-on-ev-recharging-tech