BYD targets Africa expansion with charging network planed in South Africa

BYD is setting its sights on South Africa, even as it faces growing problems back ￰0￱ Chinese EV giant will build up to 300 fast-charging stations across the country before 2026 ends, according to Stella Li, who serves as Executive Vice ￰1￱ shared the news during a Bloomberg TV ￰2￱ said the company is just getting started with opening dealerships in South ￰3￱ competes with Tesla , the company run by Elon ￰4￱ now, BYD controls roughly one-fifth of the global market for electric ￰5￱ company is working hard to gain ground in newer markets and across ￰6￱ China, things are looking up for ￰7￱ company has spent heavily on global growth, and it seems to be paying ￰8￱ in other countries are drawn to the cars because they cost less than rivals while still performing ￰9￱ the UK during September, sales shot up by 880% compared to the same month last ￰10￱ made the UK the biggest international market for BYD for the first time ￰11￱ China remains the biggest market by far, and that’s where the real problems ￰12￱ has tried cutting prices even more to bring in new buyers, but it hasn’t worked well ￰13￱ at the three months that ended in September, total sales fell compared to the same period the year ￰14￱ was the first time sales dropped year-over-year since ￰15￱ of this came from normal seasonal sluggishness, but other companies like Geely Automobile Holdings Ltd., Zhejiang Leapmotor Technology Co., and Xiaomi ￰16￱ been taking customers ￰17￱ reported by Cryptopolitan previously, the weak sales numbers forced BYD to change its ￰18￱ Yunfei, a top executive at the company, said they now expect to sell 4.6 million vehicles in ￰19￱ original goal was 5.5 million ￰20￱ can charge more money for its cars in foreign countries, which helps make up for some of the ￰21￱ it doesn’t cover ￰22￱ August, the company reported that profits fell for the first time in over three ￰23￱ income dropped by 30% compared to the previous ￰24￱ rules create new headaches Starting in May, Chinese officials began cracking down hard on the price war that started in early ￰25￱ restrictions on price cuts took away one of BYD’s main ￰26￱ company does have one advantage: it makes most of its own batteries and computer chips, so supply chain problems haven’t hit as ￰27￱ other government rules have created fresh ￰28￱ now require car companies to pay suppliers within 60 ￰29￱ is a huge change for BYD, which took an average of 275 days to pay vendors in ￰30￱ ahead, more obstacles ￰31￱ markets, including Europe and Mexico, are trying to slow down cheap Chinese electric car ￰32￱ carmakers are already locked out of the US market because of high ￰33￱ restrictions on Chinese-made technology in vehicles will take effect in ￰34￱ stock has gone downhill since May The company’s market value hit $175 billion in late May but has fallen since then due to the government crackdown and summer sales ￰35￱ September’s profit drop was announced, shares fell 8%, erasing more than $6 billion in market value.

A few weeks later, news broke that Warren Buffett’s Berkshire Hathaway had sold off its entire stake in the ￰36￱ holding was worth about $9 billion just before selling began in ￰37￱ stock dropped 7% over three days after this news came out. A BYD spokesperson said buying and selling stocks was normal business and thanked Charlie Munger and Warren Buffett for their support over the ￰38￱ the stock bounced back somewhat, it remained lower on October 10 than it was before the sell-off ￰39￱ the gloomy mood among investors, some analysts think BYD’s new car models planned for 2026 could turn things ￰40￱ Ding, who works at HSBC Holdings Plc, said a big technology upgrade might help sales grow faster next ￰41￱ Bybit now and claim a $50 bonus in minutes