Chinese EV stocks, like BYD, rise after EU announces manageable tariff increases

From BNN Bloomberg: 2024-06-12 23:58:41

Chinese electric vehicle stocks, including BYD Co Ltd, surged after the EU announced manageable tariff increases, with BYD’s Hong Kong-listed shares rising by 8.8%. Analysts believe BYD will weather the increase well due to lower tariff rates compared to competitors. SAIC Motor Corp may be hit harder with its higher duties. Citigroup sees BYD’s export growth improving and Morgan Stanley expects higher selling prices for Chinese EVs. UBS notes BYD’s cost advantage and Daiwa highlights pricing strategies. JPMorgan mentions a possible selloff as a buying opportunity for top players like BYD.



Read more at BNN Bloomberg: China EV Stocks Rise on Bets Tariffs Are Manageable: Street Wrap