Tesla Rival BYD's Hong Kong Shares Surge Amid Overseas Sales Boost: Report

Hong Kong-listed shares of BYD Co. Ltd. surged following a reported overseas sales boost in South America.

The automaker’s shares listed on the Hong Kong stock exchange surged 8.3%, the most in more than a year, after reports emerged that the automaker’s facility in Brazil received an order of 100,000 units from Mexico and Argentina, Bloomberg reported on Monday, citing local Chinese media news.

Hong Kong-listed shares of BYD’s fellow Chinese automakers, like Nio Inc. and Xiaomi Corp, also recorded a 5% surge, the report said.

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The news comes as the world’s largest EV maker has recorded consistent growth in its overseas sales. BYD recently registered its facilities in Shenzhen and Xi’an as potential exporters to the Canadian market, even as Canada’s leader of opposition touts a U.S.-focused strategy for the country’s auto industry.

BYD’s sales surged over 165% in the European market, beating rival Tesla Inc., which, despite a decline in January, recorded an uptick in sales recently in multiple countries in Europe. However, the company is now aiming to expand its global footprint, with the Chinese automaker also mulling a possible entry into the Formula 1 World Championship.

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However, despite strong overseas performances, BYD’s domestic sales in the Chinese market remain a headwind for the company. Recently, BYD was overtaken by rival Geely Automobile Holdings Ltd., which outsold BYD for the second consecutive month in China. Geely sold 76,000 more units than BYD during the first two months of 2026.

BYD’s decline also prompted Elon Musk to share his views, with the Tesla CEO saying that BYD’s factories reportedly running below capacity is a “major pain” for the automaker, as sales also declined 36%.