1 Reason BYD Co. Could Be the Top Stock Investors Are Missing

It's easy to understand why investors and Wall Street were focused on Western electric vehicle (EV) pioneers, given Tesla (NASDAQ: TSLA) essentially reenergized the industry from California. When looking for the next soaring Tesla stock, many jumped to look at Rivian or Lucid, while overlooking a growing Chinese Juggernaut, BYD Co. (OTC: BYDDY) -- and that's a mistake. BYD offers an enticing combination of global scale, impressive vertical integration, proven profitability, and the ability to develop a vehicle from the ground up faster than the industry has seen. But the one reason BYD could be the top automotive stock investors are missing is an easy one, with a great recent example: growth.BYD Co. might not be a household name in America, yet. The Chinese automaker doesn't sell a product here thanks to significant tariffs on Chinese EVs, but it has burst onto the global scene over the past five years. Last year, BYD sold more full-electric vehicles than its well-known rival Tesla and, even though BYD ended production of any gasoline-powered vehicles in 2022, it sold more new-energy vehicles (NEVs), which is just a term that combines full-electric and hybrids, than Ford Motor Company sold total vehicles last year. BYD barely celebrated its growth, and instead talked about its new target: overtaking Toyota (NYSE: TM) to become the No. 1 automaker by global sales in five years. BYD Chairman Wang Chuanfu stated at its annual shareholder meeting, "BYD will truly become the No. 1 automaker globally in terms of scale in five years." Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool