BYD Co Ltd Class A

Twenty Chinese auto brands will exhibit at next week's Paris Motor Show, the most ever. The scale of Chinese participation this year is double that of the previous edition in 2024, with newcomers such as AITO and AVATR joining established makers like BYD and Chery. According to data from Schmidt Automotive Research, Chinese brands' share of the European market reached 10.7 percent in the second quarter, up from 5.7 percent a year earlier, surpassing the Japanese rivals that entered Europe in the 1970s. While European automakers continue to struggle with sluggish sales in China, Chinese automakers, largely shut out of the US market, are focusing on Europe, and are preparing a counterattack with new-generation EVs such as Stellantis's revived Citroen 2CV model. Brad Kuntz of Grant Thornton Stax said that if the United States had allowed Chinese automakers to enter, Europe would not have become such a fiercely contested battlefield.

BYD said on its investor interaction platform on October 9 that orders for its flash-charging models are currently strong, and the company's top priority is to accelerate the capacity ramp-up of its second-generation Blade battery and fully improve delivery capability to safeguard the car-buying experience for consumers. The company said product pricing is considered comprehensively based on multiple factors including market competition, user demand, long-term brand strategy, and the pace of capacity release. For product price information, please refer to official announcements.

Japan's electric vehicle market is projected to grow from US$1.84 billion in 2025 to approximately US$2.68 billion by 2030, according to a new ResearchAndMarkets.com databook. The market is forecast to grow 7.9% annually to reach US$1.99 billion in 2026, following a CAGR of 7.3% during 2021-2025, with a CAGR of 7.7% expected from 2026 to 2030. The report says Japanese automakers including Toyota, Honda and Nissan are maintaining a multi-pathway electrification strategy spanning BEVs, PHEVs, HEVs and FCEVs, with compact vehicles, kei cars and urban commercial vehicles leading near-term BEV growth. Nissan continues developing its Sakura mini-EV platform, Toyota introduced a BEV version of the Pixis Van kei commercial vehicle in February 2026, and BYD is preparing a kei-class EV initiative for Japan as the most visible foreign challenger. The report also cites Honda's cancellation of selected planned EV models and Sony Honda Mobility's discontinuation of AFEELA model development as signs of pressure from capital discipline and battery supply-chain constraints, while METI's Mobility DX Strategy identifies software-defined vehicles and data utilization as critical to automotive competitiveness.

Norway's electric vehicle market is forecast to grow 13.3% annually to reach US$113.8 million in 2026 and approximately US$190.9 million by 2030, a 13.8% CAGR from 2026 to 2030, according to a new ResearchAndMarkets.com databook. The market rose from US$100.5 million in 2025 after a CAGR of 11.6% during 2021-2025. Tesla remained the leading brand in 2025, with Volkswagen closing the gap toward year-end, while Volvo, Toyota, BMW and BYD also compete. Norway's government has proposed cutting the VAT exemption threshold for electric cars from NOK 500,000 to NOK 300,000 in 2026 and has signalled removal of VAT benefits from 2027, a shift expected to boost compact and lower-priced EVs and pressure premium models. Enova is supporting charging stations for electric trucks and buses, and Circle K and Omexom upgraded the Furuset location in Oslo into Circle K's largest global EV charging hub, featuring 28 ultra-fast chargers.

Seven ministries including the Ministry of Industry and Information Technology released the 15th Five-Year Plan for the Development of the New-Type Battery Industry on September 28, the first national-level special plan in the battery sector. It explicitly proposes that by 2030, all-solid-state batteries will initially achieve large-scale application, long-life lithium batteries will reach a cycle life of 15,000 times, and it supports financing for qualified backbone enterprises in the new-type battery industry chain. Boosted by this news, A-share solid-state battery concept stocks continued to climb during trading on October 8. Liwang shares hit the 30 percent limit-up, while Shiming Technology, Jinyinhe, Zizhu High-Tech, Fengyuan shares, Xiongtao shares, and Chuanyi Technology were among multiple stocks that hit limit-up. Wuhan LAND Electric rose more than 20 percent, and Nakenoer and Lingge Technology both rose more than 10 percent. The policy boost coincided with continued improvement in industry fundamentals. According to Xinhua News Agency, in the first half of 2026, China's total lithium battery output exceeded 1,240 gigawatt-hours, up 44 percent year on year, and total lithium battery exports reached 337 billion yuan, up 37 percent year on year. On the industrial side, technology routes are gradually becoming clearer. The industry widely expects semi-solid-state batteries to be the first to achieve commercialization in 2026, and in 2027 several leading companies are expected to complete small-batch mass production or demonstration installation of all-solid-state batteries. CATL said it is expected to achieve small-batch production in 2027, and BYD plans to carry out small-batch demonstration installation of all-solid-state batteries in 2027. Its all-solid-state batteries have passed automotive-grade validation, with a single-cell energy density of 400 watt-hours per kilogram. Ping An Securities believes the long-term development prospects for solid-state batteries are broad, and suggests paying attention to CATL, Penghui Energy, Lead Intelligent, Liyuanheng, Nakenoer, Rongqi Technology, XTC New Energy Materials, and Sinocera Materials. Debon Securities judges that 2027 is likely to become a key node for the solid-state battery industry, and recommends prioritizing layout in equipment segments such as dry electrodes and isostatic pressing, as well as incremental materials such as sulfide electrolytes and silicon-based anodes.

BYD released its September 2026 production and sales report, with new energy vehicle production of 463,900 units and sales of 463,600 units for the month. Among these, pure electric models sold 273,100 units in September, plug-in hybrid models sold 183,600 units, and exports of new energy vehicles reached 180,700 units for the month. Cumulative sales for the year totaled 3,131,600 units, down 3.94% year-on-year.

The Korea Automobile Importers and Distributors Association, or KAIDA, reported that new registrations of imported passenger cars in South Korea rose 6.3% in September from a year earlier to 34,904 units, driven by strong demand for electric vehicles and luxury cars from Germany. Imported car sales in the first nine months of the year reached 279,729 units, up 24.1% year on year. In September, Tesla, the US automaker, topped South Korea's imported car sales with 12,372 units, followed by BMW with 6,066 units and Mercedes-Benz with 5,477 units. China's BYD put in a standout performance in fourth place with 2,614 units, followed by Volvo with 1,414 units, Lexus with 1,064 units and Toyota with 971 units. Sales of European-brand cars in South Korea stood at 17,578 units last month, accounting for 50.4% of total sales, while US, Chinese and Japanese brands held market shares of 36.1%, 7.6% and 5.9% respectively. By fuel type, battery electric vehicles took the largest share at 52.1%, followed by hybrids at 39.0%, gasoline cars at 8.2% and diesel cars at 0.7%.

A report titled Thailand Investment Outlook: Hope, resilience, and growth by PwC Thailand says supply chain diversification, AI adoption, and the energy transition are opening a new chapter of investment opportunity in Thailand and strengthening the country's role as a gateway to ASEAN. The momentum is reflected in Thailand's gross foreign direct investment transaction value, which reached 86 billion US dollars, or about 2.9 trillion baht, in 2025, according to Bank of Thailand data, with China, Singapore, and the European Union among the key sources of investment. The report, published ahead of the 2026 Annual Meetings of the Boards of Governors of the International Monetary Fund and the World Bank Group in Bangkok, says Thailand has several strengths, including a domestic market of 71.7 million people, a strong automotive manufacturing ecosystem, and leadership in the tourism, healthcare, and food industries. It notes that ASEAN has a population of about 700 million and a combined economic value of roughly 4.2 trillion US dollars, or about 141.3 trillion baht, with economic growth expected to average 4 to 5 percent a year. Thailand's capabilities span four key hubs. In automotive, Thailand is Southeast Asia's largest vehicle producer, making about 1.5 million passenger cars in 2025, with EVs accounting for 53 percent of new car sales in the first half of 2026. Past investments by foreign companies include Google's 1 billion US dollar plan, or about 33.6 billion baht, for the Bangkok Cloud Region; Western Digital's 693 million US dollar, or about 23.3 billion baht, expansion of its manufacturing base; and BYD's 490 million US dollar, or about 16.5 billion baht, investment to build its first wholly owned passenger car production base in Southeast Asia. Puvin Noochoowet, Territory Operating Officer and Deals Partner at PwC Thailand, said Thailand's investment story is entering a new chapter, and seizing this opportunity requires linking AI, supply chain diversification, and the energy transition with capabilities, infrastructure, and a skilled workforce.

Tesla delivered 486,532 vehicles in the third quarter of 2026, beating the Zacks Consensus Estimate of 471,262 units, with deliveries up 1.3% sequentially but down 2.1% year over year. Through the first nine months of 2026, Tesla delivered 1,324,681 vehicles and needs just more than 311,448 units in the fourth quarter to break its streak of annual declines. The competitive picture remains concerning, as BYD sold 762,478 passenger battery-electric vehicles in the quarter, up roughly 31% year over year, while NIO delivered 109,178 vehicles, up 25.4% year over year. In the last reported quarter, automotive gross margin excluding regulatory credits slipped to 16.3%, and energy storage margins fell to 20.4% from 39.5%, while Tesla expects capital spending above $25 billion in 2026. Tesla's robotaxi network had covered roughly 380,000 driverless miles, compared with Waymo's more than 220 million rider-only miles, and the company recently moved its Roadster demonstration from Oct. 1 to Oct. 15. Tesla's Oct. 21 earnings report is much-awaited, and TSLA stock currently carries a Zacks Rank #4 (Sell).

The UK new car market recorded its best September since 2017, with registrations up 12% year-on-year to 350,518 units, according to figures released on the 2nd by the Society of Motor Manufacturers and Traders. Supported by strong demand for electric vehicles, battery electric vehicle registrations in September rose 36% year-on-year to 99,199 units, taking a market share of 28.3%. In contrast, petrol car registrations fell 6.7% and hybrid vehicle registrations fell 4.2%. Diesel car registrations rose 11.5% in September, but were down 7% over the January-September period compared with a year earlier, with their market share shrinking to about 4.5% this year. By brand, the Jaecoo 7 SUV from China's Chery was the best-selling model, while among battery electric vehicles the Sealion 7 SUV from China's BYD ranked third, behind US EV giant Tesla's Model 3 sedan and Model Y SUV. On a year-to-date basis, battery electric vehicles account for only 26.2% of total sales, well below the 33% mandated for 2026 and also short of last year's 28% target.

Argentina's first Chinese auto show opened on the 2nd in the capital, Buenos Aires. Under President Milei, the country's auto market is shifting from strong protectionism toward a more open and competitive environment. Helped by a measure allowing up to 50,000 electric and hybrid vehicles to be imported duty-free in 2026, Chinese brands have been entering the market one after another, and in August the Chinese brands' share of passenger car and light commercial vehicle sales reached 10%, up from about 2% in late 2025. Chinese electric vehicle giant BYD has become the ninth-largest auto brand by sales since entering Argentina in late 2025. More than 20 Chinese brands exhibited at the auto show, including Geely, Chery, Great Wall Motor and Dongfeng Motor, and Sebastian Beato, president of the Argentine auto dealers association, said the remarkable growth of Chinese brands is prompting the domestic auto industry to produce new models.

Ford, GM and Stellantis each invest less than $400 toward EV research, development and production for every passenger vehicle they sell, while Chinese automakers including BYD, SAIC and Geely invest between $1,700 and $2,750 per vehicle, according to Dale Hall of the International Council on Clean Transportation. Writing in Automotive News, Hall said the Detroit 3 ranked among the world's five least capital-invested automakers in EVs on a sales-adjusted basis as of last year, and warned that no amount of American ingenuity and innovation can close the gap with China's lead. He pointed to the federal government's phase-out of tax credits for new and used electric vehicles and charging infrastructure and its freeze and termination of grants for EV and battery manufacturing, after U.S. makers invested billions in EV projects backed by Inflation Reduction Act assurances. Ford took a $19.5-billion hit tied to scaling back its electric program amid lower-than-expected demand, high costs and regulatory changes. Hall noted China supplies an estimated 70% of the world's car batteries and 80% of car battery cells and has more than 24 times more publicly-accessible EV chargers than the U.S., while BYD overtook Tesla as the world EV leader in 2025.

Marie Jaroni, CEO of Thyssenkrupp Steel Europe, the steel subsidiary of Germany's Thyssenkrupp and Europe's second-largest steelmaker, said on the 28th that the expansion of production in Europe by Chinese automakers will more than offset the decline in regional steel demand caused by the struggles of established manufacturers. Speaking at an investor meeting, Jaroni said demand for automotive steel sheet from Chinese automakers in the European Union is expected to reach about 900,000 tons by 2033. That would grow from zero in 2025 and account for 6.3 percent of total EU automotive steel sheet demand. She also mentioned BYD, Chery Automobile, and Geely Automobile, saying Chinese manufacturers are building factories and supply chains.

EU new passenger car registrations rose 4.5% year over year to 708,211 units in August, extending the market's growth streak to seven consecutive months, the ACEA reported Thursday. August growth accelerated from a 3% increase in July, with all four of the EU's largest car markets posting gains: Spain at 11.8%, France at 7.4%, Italy at 3.2%, and Germany at 2.6%. For the first eight months of 2026, new EU car registrations increased 5.3% despite persistent geopolitical uncertainty and rising energy prices, and battery electric vehicles accounted for 21.7% of registrations through August, up from 15.8% a year earlier, while hybrids held the largest share at 36.6% and plug-in hybrids 10%. Among major markets, BEV registrations rose 74.2% in France, 53.1% in Germany, and 40.9% in Denmark in the first eight months of 2026, with those three countries together accounting for 64% of total EU BEV registrations during the period. Year to date, Chinese automakers continued to post strong gains in the EU, with Chery Automobile up 250.9% to 116,318 units and BYD Company up 163% to 177,752 units, while Tesla sales climbed 65.9% to 142,165 units, SAIC Motor gained 19.8% to 163,707 units, and Geely Group rose 7.8% to 205,047 units; among major traditional automakers, Volkswagen Group rose 1.3% to 1.99M units and Stellantis increased 5.2% to 1.20M units, while Ford Motor fell 17.7%, Renault Group declined 4%, and Hyundai dropped 2.2%.

Bualuang Securities upgraded WHA stock from Hold to Buy, keeping its target price unchanged at 5.50 baht. It sees uncertainty over data center regulations beginning to ease, and expects EV excise tax reform to spur Chinese automakers and parts makers to relocate production to Thailand. The stock has fallen more than 11% since the downgrade, and the broker believes most of the overhang is already reflected in the price. The new data center rules are expected to be announced by mid-October, requiring hyperscale data centers of 100MW or more, and data centers classified as industrial activities, to be located in industrial estates. There are 57 data center projects already approved by the BOI, worth about 811 billion baht. WHA has a clear customer base, including a major US client that bought more than 1,000 rai of land with an investment value of 36 billion baht, Beijing Haoyang, which is building a 300MW hyperscale data center worth 72.67 billion baht, and K2 Strategic, which is developing a 50MW colocation project at WHA ESIE 4. On EV tax restructuring, the EV board approved a three-tier excise tax structure, with domestic manufacturers using a high share of local parts paying the lowest tax, while the EV 3.5 conditions tighten from 1:2 in 2026 to 1:3 in 2027. BEV registrations in the first seven months of 2026 rose 88% year on year to 126,950 units. WHA already has an existing base supporting BYD's 600-rai plant and Changan's 250-rai plant, a total of 850 rai.

SUSCO Public Company Limited, or SUSCO, has announced a second-half plan to expand its fuel service stations in high-potential locations while developing the station format into more of a Lifestyle Destination through the SUSCO SQUARE concept, which will bring together shops, restaurants and various brands to serve customers within the stations. Chaiyarit Simaroj, Managing Director of SUSCO, said this strategy prioritises the quality of locations and their revenue-generating potential over simply increasing the number of branches. This runs alongside the electric vehicle business for the BYD and DENZA brands, as well as the hire-purchase and car rental business, which has continued to receive strong interest from both government and private-sector customers. SUSCO is building its game on three core pillars: the fuel business, its existing revenue base; the expansion of Non-Oil to increase value per station; and the EV-Mobility business to create a new Growth Engine, aiming toward its goal of becoming a Smart Energy & Mobility Solutions Provider.

BYD Company Limited has rolled out its most advanced European commercial vehicle portfolio, anchored by the flagship ETT 44, which supports ultra-fast charging of up to 1.5MW and can add more than 400 kilometers of range in 20 minutes. The lineup also includes rigid trucks such as the T020 and T028, vocational vehicles for last-mile delivery and municipal applications, and fully electric yard tractors. In May 2026, BYD introduced Full Damage Coverage for its Urban Navigate on Autopilot function under the God's Eye driver assistance system in China, making it the first automaker to offer dual coverage for advanced driver assistance features, and the company plans to invest more than RMB 100 billion in intelligent driving R&D. In March 2026, BYD introduced its self-developed FLASH Charging technology, capable of delivering up to 1,500kW through a single connector, alongside the second-generation Blade Battery, which increases energy density by 5% while substantially improving charging performance. BYD reported an 18% year-over-year increase in global sales to 440,293 units in August 2026, marking its fourth consecutive month of growth after eight months of declines, driven by a 134% surge in overseas sales to 189,466 vehicles.

Chinese automakers are scouting locations for production bases in Europe after the EU signaled it will introduce local content requirements. Alfredo Altavilla, BYD's adviser for Europe, told Reuters at the opening ceremony of a Denza premium brand dealership in Turin, Italy, that companies are focusing their efforts on inspecting existing auto assembly plants, which can start production faster than building factories from scratch. The European Commission is drafting a "Made in Europe" policy that favors industrial parts and products made within the bloc, and is expected to set minimum local content thresholds for EVs sold in the region, possibly as early as next year. BYD aims to acquire existing plants, take full ownership and then retrofit them; its first European passenger car plant in Hungary is in the early stages of production, and the company is expected to select a second European site within the year. Altavilla said that to grow while meeting EU regulations, BYD will eventually need "three assembly plants and one battery plant" in Europe, adding that Spain and France offer "clearly simpler situations" and are the "most feasible" options. Italy is a "second-best" choice because Stellantis is reluctant to sell plants, he said. Chinese manufacturers have already begun partnerships to share production lines at underutilized European plants: Leapmotor is teaming up with Stellantis in Spain, Dongfeng Motor with Stellantis in France, Geely with Ford Motor in Spain, and Chery has bought a plant in Spain previously owned by Nissan.

Indonesian new vehicle sales rose 32% year-on-year to 81,756 units in August 2026, up from 61,771 units a year earlier, according to wholesale data from the local automotive industry association Gaikindo. For the first eight months of 2026, the market expanded 20% to 599,491 units, with light passenger vehicle sales up over 13% to 437,374 units and commercial vehicle sales up 42% to 162,117 units, including a 54% surge in light- and medium-duty trucks to 131,813 units. Battery electric vehicle sales nearly doubled to 103,300 units year-to-date from 53,100 units, driven by Chinese brands and government tax incentives. Toyota led the first eight months with sales up 9% to 175,931 units, followed by Daihatsu at 100,884 units, Suzuki at 47,908 units and Mitsubishi Motors at 43,753 units, while BYD jumped 98% to 37,696 units to take fifth place ahead of Honda, which fell 37% to 26,437 units. Overall vehicle production rose 13% to 859,256 units in the period, and GlobalData forecasts Indonesia light vehicle sales to rise 3% to 770,000 units in 2026 from 750,000 units in 2025, easing to 765,000 units in 2027.

UBS forecasts that Chinese automakers will raise their global market share to 37% by 2030, up from 22% in the first half of 2026, as consumers increasingly accept Chinese car brands, supporting expansion beyond China. For the European market, UBS raised its forecast for Chinese brands' share to 20% by 2030 from 18%, compared with roughly 8% today, and growth is outpacing earlier expectations. A survey of 12,000 consumers by UBS Evidence Lab found that 36% of European respondents would consider buying an electric vehicle from a Chinese brand, with interest in Chinese brands in Europe rising by more than interest in Japanese and South Korean brands combined. Value for money was the most important factor, cited by 66% of those likely to buy a Chinese electric vehicle globally, while advanced technology was the second, at 61%. In its base case, UBS expects BYD, Geely, Chery, SAIC, Leapmotor and Xiaomi to be the Chinese manufacturers most likely to become major players in overseas markets. In a bull case, Chinese automakers' global market share could reach 45%, and 30% in Europe, by 2030, while a bear case could put it at 33% globally and 15% in Europe.

Honda Motor Co., Ltd. aims to cut more than $9 billion in costs over the next four years and has instructed suppliers to drastically reduce prices, according to internal documents and a person familiar with the matter reported by Reuters on September 2. The automaker is targeting 30% cost reductions in three categories: pressed and forged components, electrical parts, and parts for software-defined vehicles, and is urging its direct suppliers to use standardized parts sourced from lower-tier suppliers and to expand use of Chinese-made components where possible. The plan, aiming to save 1.5 trillion yen, or $9.4 billion, by 2030, comes as BYD and other Chinese EV makers capture a growing share in Southeast Asia, Latin America, and Europe through advanced software, better batteries, and far lower prices. Honda posted its first-ever annual loss as a public company in May and expects EV-related losses to ultimately exceed $12 billion, among the largest such hits of any global automaker, prompting a strategic shift toward gasoline-electric hybrids. Sources described the cost targets as extremely large, with genuine uncertainty about whether suppliers can achieve them.

BYD captured 35.4% of China's passenger new energy vehicle exports in August, while Tesla China fell to fourth place with 7.0%, according to China Passenger Car Association figures published by CnEVPost. BYD exported 183,746 passenger NEVs in August, up 130.8% from a year earlier and 5.8% from July, with its share climbing from July's 32.2%. Tesla China exported 36,119 vehicles, down 45.5% month over month, as its share fell from 12.3% in July and it dropped from third to fourth behind Geely and Chery. Through the first eight months of 2026, BYD shipped 1,126,797 NEVs abroad for a 33.9% share, against Tesla China's 331,443 and 10.0%. BYD now expects to sell more than 2.5 million vehicles overseas in 2027, a target disclosed in a Deutsche Bank research note after management's post-earnings call, and it lifted 2026 overseas guidance to between 1.9 million and 2.0 million vehicles from 1.3 million at the start of the year. Profit per vehicle sold overseas ran about 20,000 yuan, or roughly $2,950, in the first half despite currency headwinds, management said on the call.

China aims for 70% of new vehicles sold in the country to be electric or hybrid by 2030 under its latest five-year automotive industry plan, drafted by nine government agencies and published on Friday. The 15th Five-Year National Economic and Social Development Plan also targets 40% of new commercial vehicles sold by 2030 to be electric, while expecting several Chinese automakers to rise into the world's 10 largest carmakers and to play a bigger role in setting global automotive industry standards. Currently, BYD, SAIC Motor and Geely Automobile rank among the world's 10 largest automakers by sales last year, but still lag the top three of Toyota Motor, Volkswagen and Hyundai Motor Group. The previous plan in 2021 had targeted EVs and hybrids at 20% of new car sales by 2025, but China far exceeded that goal, with data from the China Passenger Car Association showing the share rose to 54% last year, and new energy vehicles most recently accounting for 65% of car sales in August. Although the plan sets no numerical target for autonomous driving cars, its emphasis on expanding the use of driverless vehicles is a positive signal for the industry, after China suspended approval of new Robotaxi permits for several months this year following system failures in Baidu's vehicles in Wuhan. China's domestic car market is facing challenges, with car sales in the first eight months of this year down 21%, while a prolonged price war erodes manufacturers' profit margins. Beijing has therefore issued more than half a dozen new standards and regulations, covering everything from door handles and driver-assistance technology to batteries, to raise safety levels, and said in the plan that it wants to push forward reform of automakers, encourage mergers and acquisitions, and open the way for inefficient manufacturers to exit the market to ease the industry's overcapacity problem. Battery technology and recycling are another key agenda item, with the plan calling for standards for new forms of battery cell technology such as solid-state batteries, as well as improving the recovery and reuse of key metals including lithium, cobalt and nickel.

DP World has handled the largest single maritime delivery of new energy vehicles to Chile, discharging 1,918 fully electric and plug-in hybrid vehicles at its multipurpose terminal in San Antonio. The arrival also marked the first call by a BYD car carrier at a Chilean port, with the BYD Changzhou visiting the country as part of its inaugural route to South America. According to BYD, the shipment represents the largest number of new energy vehicles ever delivered to Chile aboard a single vessel. The milestone comes as Chile's electric vehicle market continues to expand rapidly, with sales up 165.4% year over year in the first half of 2026 according to the Chilean Automotive Association, and plug-in vehicles reaching 6.5% of the country's new light- and medium-duty vehicle market. The operation reinforces DP World in San Antonio's position as Chile's leading gateway for automotive cargo, with more than 95% of the country's vehicle imports moving through the terminal. The shipment follows another automotive milestone at the terminal earlier this year, when the M/V Morning Lily discharged 6,338 vehicles in a single vessel operation, the largest overall vehicle discharge in Chilean history.

Tesla's August retail sales in China fell 12.4% year-over-year to 50,047 units, marking its weakest August since 2022, even as the company rolls out its Cybercab robotaxis. The decline contrasts with a 0.8% rise in overall battery-electric vehicle sales in China, while new electric vehicles including plug-in hybrids dropped 10.1%. Tesla ranked fifth in the country, far behind leader BYD, which sold 233,943 units. Exports from Tesla's Shanghai factory rose 38.7% year-over-year, but that lagged the 154.7% growth in Chinese new electric vehicle exports. Analysts note that monthly sales data now matter less to Tesla's stock, which is up 0.17% to $368.80 on Wednesday, up 12% over the past month but down 15.4% year-to-date in 2026.