Investing in BYD Stock Instead of Tesla? 1 Key Risk to Keep An Eye On in 2024
Electric vehicle (EV) investors were greeted with the news that China's automaker and battery giant BYD (OTC: BYDD.F) surpassed Tesla (NASDAQ: TSLA) as the world's top seller of EVs during the final months of 2023. Though Tesla still outsold BYD for full-year 2023 (1.81 million deliveries for Tesla versus 1.59 million EVs for BYD), the Chinese company has been growing at a rapid pace and narrowing the gap.
As a result, some investors might be mulling an investment in BYD in 2024. But there's more to consider than just flat-out vehicle sales. Here's one risk to keep an eye on this year.
BYD's rapid rise in EV vehicle production (as well as hybrids) has sent revenue sky-high. Revenue was up over 300% in the last five-year stretch, most of those gains coming with the ratchet-up of the EV space since the pandemic.
Source Fool.com
BYD Co. Ltd Stock
BYD Co. Ltd is currently one of the favorites of our community with 18 Buy predictions and no Sell predictions.
As a result the target price of 34 € shows a positive potential of 25.93% compared to the current price of 27.0 € for BYD Co. Ltd.
