Ark Invest's Cathie Wood is raising questions over an unusual discrepancy in Chinese automaker BYD Company Ltd.'s reported delivery data, citing a roughly 20% gap between the company's vehicle deliveries and corresponding registration figures.
The manufacturing sector in China has slipped into contraction in May, marking its lowest level since September 2022, as the impact of tariffs continues to weigh heavily on the industry despite a temporary trade truce with the U.S.
An industry association warned that aggressive EV price cuts, led by BYD, risk squeezing profits, harming product quality, and threatening consumer safety.
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The prosecutors have requested that the Court order BYD and its contractors to pay 257 million Reais in moral damages in addition to damages to individual workers.
Shares of Tesla Inc. (NASDAQ: TSLA) might be in for a rough week, according to fund manager Gary Black, following the announcement of steep discounts by the company's Chinese rival.
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Tesla Inc. shares have surged 46% since late April, adding $350 billion in market capitalization despite expected delivery declines, according to Gene Munster, Managing Partner at Deepwater Asset Management.
