BYD, China's Electric Vehicle Stock That Thai Investors Should Know - In-Depth Analysis for 2025

When it comes to investing in clean energy technology stocks, BYD is a name that cannot be overlooked in the Asian market. As China’s leading electric vehicle manufacturer with pricing power, strong financials, and a diverse product portfolio, 2024 is a pivotal year for the company. After a retreat from major investors like Warren Buffett, it has rebounded strongly with excellent performance.

Understanding BYD - From Battery Factory to Automotive Industry Giant

BYD Co., Ltd. started producing rechargeable batteries in 1995 before listing on the Hong Kong Stock Exchange under the code 01211 in 2002. A major milestone came in 2023 when it became the first Chinese manufacturer to deliver over 1 million electric vehicles annually.

Currently, BYD HK: 01211 has a market value of approximately $109.57 billion USD, making it the third-largest automaker in the world, behind Tesla (565.95 billion) and Toyota (298.14 billion).

Explosive Growth Data: 2024, the Year BYD Shares Shine Bright

The Chinese electric vehicle market continues to expand, despite price competition risks. BYD’s results demonstrate its ability to capitalize on trends and manage its business effectively, with NEV (New Energy Vehicles) sales reaching 4.27 million units in 2024, surpassing the original target of 3.6 million. Battery electric vehicles (BEV) increased by 12.08%, while plug-in hybrid electric vehicles (PHEV) surged over 72.83% to 2.49 million units.

In Q3 2024, BYD’s revenue exceeded 201.12 billion yuan (28.2 billion USD), up 24.04% year-over-year, marking the first time BYD’s revenue surpassed Tesla. This quarter signifies that BYD has shifted from a “close follower” to a “full-fledged leader” in the electric vehicle market.

Building Value: BYD’s Comprehensive Business Network

What sets BYD apart from competitors is its integrated business ecosystem:

Diverse Vehicle Models (30+ models): From SUVs, sedans, hybrids to compact cars, offering more options than Tesla’s BEV-only lineup.

Electric Trucks: Managing logistics with 70% lower emissions compared to diesel, supporting over 10,000 units worldwide.

Electric Buses: Covering major European cities with over 70,000 units.

Blade Battery: LFP (Lithium Iron Phosphate) technology that is sustainable and safe, with a range of 372 miles per charge.

Semiconductors: BYD is strategically advantaged as the only automaker producing chips in-house, whereas other EV manufacturers rely on foreign supply chains.

Innovation spending reached 33.32 billion yuan in the first nine months of 2024 (+33.6% YoY), reflecting a strong commitment to development.

In-Depth Investment Analysis: Should BYD Be in Your Portfolio?

Strong Financials: BYD holds over 214 billion yuan in cash, with a debt-to-equity ratio of 0.3 and an ROE of 18.2%, indicating a stable long-term investment.

Fair Valuation: Current PE ratio at 18, down from the 3-year average of 25, suggests the market has priced in competitive risks reasonably.

Rebound in Buying Power: Despite Warren Buffett’s divestment in July 2024 (reducing to 5%), the stock fell 3% in Hong Kong, but overall, it rose 10% in 2024, while mainland Chinese stocks increased by 30%, indicating investor confidence in BYD’s future.

Technical Trend: The stock rebounded from HKD 170-180 (early 2024) to HKD 320 (September), currently consolidating between HKD 250-280. The 12- and 26-week EMAs have formed a Golden Cross, signaling a short- to mid-term bullish trend. Next support is at HKD 260, resistance at HKD 280.

How to Invest in BYD Stocks from Thailand: Which Option Suits You?

Option 1: CFD on International Broker Platforms

Advantages: Low initial investment (some platforms$50 with leverage of 10x, enabling a $1,000 position to profit from both upward and downward movements. Easy registration, high liquidity.

Disadvantages: Not owning actual shares, no dividends, high risk, overnight swap fees.

Providers: Mitrade )regulated by ASIC, CIMA, FSC(, minimum trade size 1 Lot = 1 share, bonus )for new customers, low spreads, try with $50,000 free.

$100 Option 2: DR ###Depositary Receipt( on the Thai Stock Market

Advantages: Trade through a regular Thai brokerage account, own actual shares, entitled to dividends. Exchange rate: 1,000 units DR = 1 BYD share.

Disadvantages: Profit only from rising prices, lower liquidity, higher fees )0.15-0.25%(.

Providers: Any securities company offering DR trading, with orders processed like regular stocks.

Risk Factors to Consider

• Price Competition: New competitors may continuously erode margins.
• Chinese Economy: Economic slowdown could reduce purchasing power.
• Government Policies: Changes in support for electric vehicles.
• International Risks: US-China trade tensions.

Summary: Investment Recommendations

BYD shares offer an attractive investment opportunity for those confident in the growth of electric vehicles and clean energy. With manufacturing capacity, cost advantages, strong financials, and a diversified revenue-generating product portfolio, BYD is not just following global trends but leading in the Asian EV market.

The current PE of 18 offers a fair entry point for investors, whether gradually accumulating or waiting for clear support levels. The key is to develop an investment plan aligned with your risk profile.