BYD Seeks $5.2 Billion in Biggest HK Share Sale Since 2021.
BYD Co., China's largest electric vehicle maker, is raising as much as HK$40.7 billion ($5.2 billion) in the largest share sale in Hong Kong nearly four years. The company aims to capitalize on its strong performance, with record sales and a surge in shares since January. BYD plans to use the funds for global expansion, including localizing production to bypass tariffs.
- This massive capital raise underscores the growing appetite among Chinese companies to tap into international markets, seeking to escape protectionist policies at home.
- How will BYD's increased global presence impact its competition with other EV manufacturers in an increasingly saturated market?