tech
January 18, 2026
Chinese EV giant BYD is a buy
After beating Tesla in the number of electric vehicles sold, BYD has another big business that investors have yet to fully appreciate, according to Bernstein.
TL;DR
- BYD is recognized as a leading battery manufacturer, second globally in EV battery installations.
- Analysts believe BYD's battery segment is significantly undervalued, potentially matching the company's entire market valuation.
- BYD's 'Blade' battery technology has been key to its EV sales leadership.
- The company is expanding its battery business into utility-grade energy storage systems.
- BYD supplies batteries to various automakers, including Xiaomi, Xpeng, and possibly Ford for hybrid vehicles.
- BYD's battery shipments grew by 47% last year and are projected to increase by 35% this year.
- Analysts have a price target of 130 Hong Kong dollars ($16.67) on BYD shares, anticipating growth from battery and EV technology upgrades and new model launches.
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