NEW YORK, January 4, 2026, 08:13 ET — Market closed
- BYD’s Shenzhen-listed shares are heading into the first China trading session of 2026 with global EV leadership in focus.
- Investors are weighing overseas momentum against tougher pricing and policy headwinds in China’s crowded EV market.
- Key dates ahead include BYD’s next earnings update and Tesla’s late-January results, which often sway broader EV sentiment.
BYD Co has overtaken Tesla as the world’s biggest seller of battery-only electric vehicles in 2025, a milestone likely to keep its Shenzhen-listed shares in focus when China’s markets reopen.
BYD’s A-shares (002594.SZ) last closed at 97.72 yuan, down about 2%, in the final session before the New Year break, according to MarketWatch data.
That matters now because investors will get their first chance on Monday to price the shift in the global EV pecking order into China’s autos complex, after a multi-day holiday shutdown. The Shenzhen Stock Exchange is set to resume trading on Jan. 5 following the New Year closure, a notice carried by state-backed Securities Times said.
Battery electric vehicles, or BEVs, run solely on electricity and sit at the center of a global price fight as governments pare back subsidies and consumers turn more price-sensitive. For BYD, the question into 2026 is whether faster growth abroad can offset bruising competition at home.
Tesla delivered 1.64 million vehicles in 2025 and ceded the annual EV crown to BYD, Reuters reported on Friday, adding that global EV sales rose 28% last year. “Investors are so focused on the future with Tesla that they are ignoring delivery numbers,” said Dennis Dick, a trader at Triple D Trading, while Tesla said it would report quarterly results on Jan. 28, Reuters said. Reuters
BYD sold 2.26 million BEVs in 2025, topping Tesla’s total, according to an Associated Press report that cited the companies’ year-end disclosures.
BYD delivered 4.6 million vehicles in 2025, up 7.7% from 2024, and sold almost as many BEVs as plug-in hybrids, which combine a battery with a traditional engine, a Bloomberg report carried by the Taipei Times said. The same report cited intensifying pressure from rivals including Geely Automobile and Xiaomi, and said Morgan Stanley forecast a more meaningful domestic recovery after BYD rolls out major model facelifts.
Europe remains a key swing factor. In Italy, BYD notched an eight-fold jump in annual sales to almost 24,000 vehicles as it expanded its retail network to more than 100 outlets, even as total new-car sales in the country fell 2.12% in 2025, Reuters reported.
Technically, traders will also watch whether BYD can reclaim the 100-yuan level when A-shares reopen, after the stock’s last close left it below the round number. The share price has traded between 87.40 and 138.99 yuan over the past 52 weeks, Investing.com data showed.
A positive read-through from the “EV crown” headlines could lift sentiment across China’s automakers and suppliers, but the sector remains sensitive to fresh price cuts and any signals that Beijing will further dial back support.
Before the next session, investors are also bracing for early-year positioning flows in China and for whether BYD’s export momentum can keep building as trade barriers rise in some overseas markets.
BYD’s next scheduled earnings release is listed for March 31, 2026, for the period ending December 2025, according to Investing.com’s earnings calendar. Traders typically focus on margins, overseas mix and any commentary on pricing pressure in China.
