BYD, a listed Chinese electric automaker, is seeking to raise up to $5.2 billion in a new Hong Kong share sale. Why it matters: This highlights how the global EV market is racing forward, even as it faces speed bumps in the U.

BYD, the Chinese EV giant and Tesla's arch rival, unveiled a vehicle-mounted drone system that lets drivers deploy the gadget on the move to take videos.

BYD global EV sales jumps 56% in the first two months of this year, potentially putting it in arms reach of Musk's carmaker.

Strict data privacy laws in China and the US mean Tesla’s cars are dumber than the competition in the world’s biggest consumer market.

In the case of Tesla (TSLA) , the answer is complicated. Musk's electric vehicle (EV) company enjoyed significant growth in the weeks following Donald Trump’s election in November 2024, making it clear that investors saw Musk’s proximity to Trump as a bullish indicator.

Elon Musk’s role as President Donald Trump’s cost-cutting ... question and said the company already had millions of cars on the road. The company has lost market share to BYD in China; BMW and Volkswagen in Europe; and Hyundai and General Motors ...

Poor European sales, strengthening competition and the activities of its eccentric CEO are all pressure on the company's stock price.

The development marked a breakthrough for Tesla’s chief executive, Elon Musk, in a country where his company has faced increasingly tough competition.

Shares of Tesla ( TSLA -3.96%) are trading lower on Tuesday. The company's stock lost 7.3% as of 10:45 a.m. ET and lost as much as 7.6% earlier in the day. The drop comes as the S&P 500 lost 0.9%, and the Nasdaq Composite lost 1.7%.

Tesla rolled out self-driving features to some of its cars in China after BYD said all its cars would get its self-driving tech for free.