BYD is buying back stock to fuel its dominant global expansion with new EVs
The world’s EV leader, BYD (OTC: BYDDY), announced a stock buyback plan as it continues expanding into new markets. BYD is pushing into different segments with new luxury EVs and mid-size electric SUVs.
Expanding into new EV segments
After selling a record 526,409 all-electric vehicles in the fourth quarter of 2023, BYD topped Tesla to become the best-selling EV maker globally.
The automaker’s success was fueled by its lineup of affordable EVs like the Dolphin, Atto 3 (Yuan Plus in China), and Seal. However, BYD is quickly expanding into new segments.
BYD launched its Yangwang, an ultra-luxury brand, in January 2023, showcasing two vehicles, the U8 off-roader and the U9 electric supercar. The brand launched the rugged Yangwang U8 SUV as its first vehicle in September, with a $150,000 (1,098,000 RMB) price tag.
The luxury off-roader packs 1,200 hp and includes innovative features like 360-degree tank turns, tire blowout stabilization, and wading. It even includes a “float mode” to navigate through deep water during an emergency.
Last month, BYD revealed the luxury brand’s first sedan, the U7. BYD’s Yangwang U7 includes four electric motors for 1,300 combined hp (960 kW).
With a 135.5 kWh LFP battery pack from BYD’s FinDreams battery unit, the U7 has up to 497 miles (800 km) CLTC range. The U7 comes in base (447 mi) and long-range (497 mi) models with prices starting around $140,000 (1,000,000 RMB).
BYD will officially launch the U9 electric supercar on February 29, 2024, according to invitations sent out.
The Yangwang luxury U9 supercar EV features the same 1,300 hp (960 kW) quad motor system for a 0 to 60 mph sprint in under 2 seconds.
Meanwhile, BYD is launching several new mid-size electric SUVs aimed at Tesla’s sweet spot with its best-selling Model Y.
BYD unveiled its Sea Lion 07 in November, calling it its “first mid-size urban smart electric SUV.” At 4,830 mm long, 1,925 mm wide, and 1,620 mm tall, the Sea Lion 07 will directly compete with Tesla’s Model Y (4,760 mm long, 1,921 mm wide, and 1,624 mm tall).
The Sea Lion 07 is expected to start at around 200,000 RMB to 260,000 RMB ($28,000 – $35,900). BYD launched another mid-size SUV, the Song L, in December, starting at 189,800 RMB ($26,700) with up to 662 km (411 mi) CLTC range.
BYD issues stock buyback
BYD announced a stock buyback plan, according to a filing, as it looks to turn around falling share prices and lure investors to fuel its expansion.
Share prices have fallen nearly 32% from a 52-week high of $71.70 in July to around $48.70. BYD stock is up about 4% on Monday as investors welcome a buyback.
Companies will often buy shares to show investors they are confident in their vision. It’s essentially a way of “putting your money where your mouth is.” It can also create more shareholder value.
BYD’s overseas expansion has mainly consisted of low-cost EVs, but the automaker is considering introducing its new higher-end models in Europe. The company could bring its Yangwang U8 off-roader to Europe to take on the Mercedes-Benz G-Class, Range Rover, and other premium brands.
The company is not the only EV maker with falling share prices. Tesla, Rivian, Lucid, NIO, and essentially the entire segment has slipped over the past few months with global macroeconomic fears and ongoing price cuts leading to deteriorating margins.
That said, BYD and other EV stocks have rebounded this month, with BYDDY shares up nearly 12% after hitting a yearly low of $43.62 earlier this month.
Source: Automotive News
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First Solar just cut the ribbon on a huge new factory in Iberia Parish, Louisiana, and it dwarfs the New Orleans Superdome. The company’s $1.1 billion, fully vertically integrated facility spans 2.4 million square feet, or about 11 times the size of the stadium’s main arena.
The factory began production quietly in July, a few months ahead of schedule, and employs more than 700 people. First Solar expects that number to hit 826 by the end of the year. Once it’s fully online, the site will add 3.5 GW of annual manufacturing capacity. That brings the company’s total US footprint to 14 GW in 2026 and 17.7 GW in 2027, when its newly announced South Carolina plant is anticipated to come online.
The Louisiana plant produces First Solar’s Series 7 modules using US-made materials — glass from Illinois and Ohio, and steel from Mississippi, which is fabricated into backrails in Louisiana.
The new factory leans heavily on AI, from computer vision that spots defects on the line to deep learning tools that help technicians make real‑time adjustments.
Louisiana Governor Jeff Landry says the investment is already a win for the region, bringing in “hundreds of good-paying jobs and new opportunities for Louisiana workers and businesses.” A new economic impact analysis from the University of Louisiana at Lafayette projects that the factory will boost Iberia Parish’s GDP by 4.4% in its first full year at capacity. The average manufacturing compensation package comes in at around $90,000, more than triple the parish’s per capita income.
First Solar CEO Mark Widmar framed the new facility as a major step for US clean energy manufacturing: “By competitively producing energy technology in America with American materials, while creating American jobs, we’re demonstrating that US reindustrialization isn’t just a thesis, it’s an operating reality.”
This site joins what’s already the largest solar manufacturing and R&D footprint in the Western Hemisphere: three factories in Ohio, one in Alabama, and R&D centers in Ohio and California. Just last week, First Solar announced a new production line in Gaffney, South Carolina, to onshore more Series 6 module work. By the end of 2026, the company expects to directly employ more than 5,500 people across the US.
Read more: First Solar pours $330M into a new South Carolina solar factory
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No, it’s not the new Bolt. GM’s design team previewed a new high-riding “sporty Chevrolet EV” that should be brought to life.
Is Chevy launching a new sporty EV?
This is the all-electric vehicle Chevy should sell in the US. General Motors’ design team released a series of sketches previewing a sporty new Chevy EV.
Although it kinda looks like the new 2027 Chevy Bolt EV as a higher-sitting compact crossover SUV, the design offers a fresh take on what it should have looked like.
The new Bolt is essentially a modernized version of the outgoing EUV model with a similar compact crossover silhouette. Nissan adopted a similar style with the new 2026 LEAF as buyers continue shifting from smaller sedans and hatchbacks to crossovers and SUVs.
Will we see the sporty Chevy EV in real life? It’s not likely. For one, the “exploration sketch” is by GM China Advanced designer Charles Huang.
GM Design posted the sketches on its global social media page, but the caption read “Sporty Chevrolet EV for the China Market.”
It’s too bad. The Bolt could use a sporty sibling like an SS variant. Chevy introduced the Blazer EV SS (check out our review) for the 2026 model year, its fastest “SS” model yet. Packing up to 615 horsepower and 650 lb-ft of torque, the Chevy Blazer SS can race from 0 to 60 mph in 3.4 seconds when using Wide Open Watts (WOW) mode.
Will the Bolt be next? I wouldn’t get my hopes up. And if GM does bring the sporty Chevy EV to life, it will likely only be sold in China. Like all the fun cars these days.
What do you think of the design? Would you buy one of these in the US? Let us know your thoughts in the comments.
While deliveries of the 2027 Bolt are set to begin in early 2026, Chevy is offering some sweet deals on its current EV lineup, including up to $4,000 off in Customer Cash and 0% APR financing for 60 months.
Ready to test drive one? You can use our links below to find Chevy Equinox, Blazer, and Silverado EVs at a dealership near you.
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Environment
Podcast: Electricity is the base currency, Tesla Robotaxi crashes, new Porsche Cayenne EV, and more
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss electricity becoming the base currency, Tesla Robotaxi crashes, the new Porsche Cayenne EV, and more.
The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:
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