how much profit does byd actually made from sales especially since both tesla and byd have slashed pricessales throughout last year? boost sales throughout last ear? , , ., year? this is the important thin. year? this is the important thing- get _ year? this is the important thing. get the _ year? this is the important thing. get the other - year? this is the important thing. get the other ev - year? this is the important - thing. get the other ev makers, byd and tesla ignited a price war around the world. byd has the batteries and low cost in terms of wages at about 20,000, $25,000 per worker every year at tesla has scale and capabilities and chiding a work and automation to get to be able to compete. it is going to be interesting for the tesla has bigger margins to date but thatis has bigger margins to date but that is something that is going to be in contention for all of 2024. less tax breaks in the us, tesla will start to stop qualifying for them as we go into the new year but you will see other incentives coming into play and also protection barriers going to happen in europe and as

how much profit does byd actually make from sales, especially since both tesla and byd have slashed pricesost sales throughout last year? this is the important thing. forget the other ev makers — byd and tesla have ignited a price war around the world. byd has the batteries and low cost in terms of wages, at about $20,000-$25,000 per worker every year, and tesla has the scale and capabilities and its charging network and automation to get to be able to compete. it is going to be interesting. tesla has bigger margins to date but that is something that is going to be in contention for all of 202a. less tax breaks in the us, tesla will start to stop qualifying for them as we go into the new year but you will see other incentives coming into play and also protectionist barriers going to happen in europe and asia — ah, europe and in the us, regarding byd cars entering those markets. going to be an interesting battle to watch. ev industry for this year given the global push to become greener. we will see growth in evs but there is pushback. not all countries have the infrastructure. china has th

byd - see this movie forward? this is the important thing. byd and l the important thing.esla have created a price war around the world. byd has the batteries in the low cost in terms of wages. but tesla has the scaling capabilities and automation to get to compete against byd's numbers. tesla has bigger profits and bigger margins, but that's going to be and contingent for all to there's less tax breaks in the us. tesla will start to stop qualifying for them as we go into the new year. you're going to see other incentives coming into play and protection barriers are going to happen in europe and asia. it's going to be an interesting battle to watch. , , ., , watch. the industry for this ear? watch. the industry for this year? we're _ watch. the industry for this year? we're still _ watch. the industry for this year? we're still going - watch. the industry for this year? we're still going to l watch. the industry for this l year? we're still going to see urowth year? we're still going to see growth in _ year? we're still going to see growth in ev. _ year? we're still going

and i think when you look at byd, they are not even in the u.s. market.hen you compare that to tesla, it's got a far broader spread of sales across many markets. byd is trying to change up that fact that it's been opening new markets, 60 markets and territories into years. already, it's the top seller in israel, thailand, and also brazil. it still has a long way to go but it's making waves already and undercutting tesla, more importantly. when you look at the future, particularly into 2024, because byd has been able to outsell tesla in the quarter, can it two-year -- do that on a four year basis, that will be key to watch. that's one metric and we will still see that valuation gap between tesla and byd. tesla is still on top, still earns more and generates more profitability. but they expect byd to close up revenue gap considerably by the end of this year. kriti: we will see if that happens, a lot of optimism around tesla and concern of whether or not they are falling behind. just given the rapid growth you have seen. bricks danny lee from hong kong. i wa

how much profit does byd actually make from sales, especially since both tesla and byd have actuallyshed prices to boost sales throughout last year? well, this is the important thing — forget the other ev makers. byd and tesla ignited a price war around the world. byd has the batteries and the low cost in terms of wages at about $20,000-$25,000 per worker every year, and tesla has the scale and capabilities in its charging network and automation to get to be able to compete against byd's numbers. it is going to be interesting. tesla has bigger margins to date, but that is something that is going to be in contention for all of 2024. there is less tax breaks in the us, tesla will start to stop qualifying for them as we go into the new year, but you will see other incentives coming into play and also protection barriers going to happen in europe and in asia, europe and in the us, regarding byd cars entering those markets. it's going to be an interesting battle to watch. ev industry for this year given the global push to become greener. we will still see growth in evs but there is pushba

-- byd?matter per se in the sense that there is room for multiple players and if we break apart the market, byd eclipses tesla this year. tesla still beat byd. tesla was at 1.8 billion, byd was 1.6 million. something along those lines with the remainder being plug-in hybrid vehicles. if you look at it on a regional basis that is where the dynamics really very. in the u.s. tesla is still the dominant ev name. in europe tesla still a top three or so player in the ev market. china and tesla, it is still top two or three. byd is really taking the crown. it is china where we saw a lot of people -- byd sales accelerate. the other story we saw emerging and 2023 was the rise of chinese exports to europe and other markets. there is more competition. there is still room for tesla to grow, it is a question of in the markets were tesla surveying, where is the demand for that? caroline: spinoffs into 2024. when we think about byd getting into hungry and producing their, different price points ultimately r

you look at byd's product range.a broad spectrum. >> they did last year put out refreshed model three sedan. that is still one thing. they have the cyber truck on the market now. these are still things that have kept tesla in a small gross. byd can sell many things to many people. rishaad: they are not canonized under product range. >> they have so much product. they have conquered china. because they can for example not access the u.s. market. other markets, whether it would be latin america, europe, and asia. rishaad: you have the sword of damocles over them with the eu looking at antitrust issues. >> that is still something that remains to be seen how that will affect byd, what the outcome will be the next six months or so. but it has not deterred them. have announced an investment into a new ev production factory in hungary. rishaad: i think you are going to have a busy year. let's check on the other stories we are following. danny also covers the aviation space. airbus managed to be its early delivery target. th

tesla is dominant in the us of course but they are different companies and you could think of byd astery company that became an electric vehicle maker, and in the us i'm sitting in new york and we see a lot of vehicle makers transitioning to electric but they always talk about the transition to electrical vehicles but for byd, a different story. a lot of the battery materials are in china already and this gives byd a bit more control and flexibility over its own supply chain and its own ability to set prices and that allowed the company to slash prices which contributed to the growing sales for dub if you are other differences, there is not only a strong domestic fish to bite these —— domestic push to buy these but also the domestic support that comes in the form of infrastructure investment and subsidies, along with cheap labour, and the vehicles are offered at a lower price than they are in the us and elsewhere that allows the first time consumers to join the ev market in a way it is harder to in the us. where it is at a premium price point. international car bu ers a premium price

it's an interest dynamic here because the average tesla car is roughly twice the price of byd, but bydrket, low market from 15,000 to 30,000. they're growing rapidly not just in china, but starting to move in sos asia, throughout south america -- southeast asia, throughout south america and mexico can. but tesla has got to do something to ramp up its revenues. and i think the $25,000 car that tesla's been talking about for some time has to be front and center. musk said yesterday he will get that out by late '25. he has to execute on that. if he does, it will ramp up sales in the u.s., europe and allow them to enter new markets. elon's already said they may put their next manufacturing plant in india. but this is the smackdown for global ev dominance. it is byd versus tesla right now, and it could go either way. it's going to be an interesting one to track. investors need to pay attention. stuart: that is fascinating. steve, thanks for joining us this morning. i know you were a former board member at tesla. next time we have you on i want to talk about elon musk and his behavior and se

byd is pushing the pedal to the metal.here is a lot more growth in the byd story in the next 12 to 24 months for sure. >> to what extent is this a china-specific story? is this about tesla losing market share in china, or is there going to be more competition globally in other markets as well? >> yeah, we think it's more global competition and more specifically we think that chinese oems and byd among thefts will push into europe, which is great for european consumers and more into southeast asia. we're only starting to see that with byd also considering building a physical production plant in europe as well. >> what does this mean for european automakers, daniel? again, there's been so much conversation about the strategic importance of e ve automakers and they're looking at imposing tariffs on chinese ev makers, but i wonder. at the same time european automakers are behind ev. >> i think we've got a couple of conflicting goals here. they have very aggressive cli climate goals. they need vehicles fast and that's something

, is it byd?d it has started now to outsell tesla >> but for all of 2023, let's be clear. tesla is still number one worldwide by about a quarter million vehicles. they still have a lead there. now, what happens over the next several quarters remains to be seen. the uid has momentum. >> are most byd sales in china? >> they are in china but they are expanding. all of the chinese automakers are expanding. why? because they have capacity that needs to be used. if your market is slowing down because the economy has slowed down, what do you do? you ship to europe. ship to latin america. ship to central america. ship to southeast asia. and that is where you are increasingly seeing the chinese automakers expand their presence. >> meeting stuff. coming up, losing taste with investors. packaging giant conagra lower after slowing sales. >> we'll be right back. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharp

tesla was overtaken by byd last quarter as the world's top-selling electric carmaker.rted danny lee has been looking into the factors that made byd the king of the ev market. it likes to describe itself as. >> the biggest car brand you have never heard of. >> now china's byd has overtaken tesla as the world's largest seller of electric vehicles. his success is a feat of long-term strategic thinking on the part of byd and the chinese government. >> we have never seen anything like this in terms of the amount of support china has extended to automakers, specifically pertaining to ev's. >> most byd cars are simply a lot cheaper than tesla's. >> they have very cheap models starting from 10,000 u.s. dollars. the most important thing is that byd is the only automaker that produces all of its batteries in house. >> making its own batteries and other components helps it reduce costs. all of this is setting china up to be the dominant global player in transportation of the future. electric vehicles, a business that could be worth $8.8 trillion by the end of the decade. lizzy: y

byd is scheuted. although there is no direct ban, but possible that more restrictive measures against the chinese will come out in the future. so it comes down to maybe russia and the middle eastern countries that could be more open to chinese auto makers and chinese technology. byd is different. byd makes car, that's it. tesla, it labels it evil as an a.i. car company. it is very dynamic and the company business strategies. >> good to have you back. >> couple of stories we are tracking this hour. later this month. fidelity estimates that social fidelity estimates that social media platform x, ♪ (upbeat music) ♪ ( ♪♪ ) >> this is bloomberg. ♪ >> now killed one of the senior leaders, raising fresh concerns of regional escalation in the war in gaza. have we heard from israel on this? this is the first attack we are seeing in beirut since 2006? >> nothing has been said officially and haven't claimed responsibility for it. and israeli officials are confirming it was an israeli attack. no doubt about that.

ed: sticking with tesla in china, the electric vehicle maker has been overtaken by china's byd as the top-selling electric car maker. >> it likes to describe itself as -- >> the biggest car brand you've never heard of. >> now china's byd has overtaken tesla as the largest seller of electric vehicles. the success is the fruit of long-term strategic thinking on the part of byd and the chinese government. we have arguably never seen anything like this in terms of the amount of support that china has extended to automakers specifically pertaining to ev's. most of byd's cars are a lot cheaper than teslas. >> they have very cheap models starting from 10,000 u.s. dollars. the most important factor is byd is the only automaker that produces all of its batteries in house. >> making its own batteries and other components help it reduce a lot of cost, setting china up to be the dominant global player in the transportation of the future. electric vehicles, a business that could be worth $8.8 trillion by the end of the decade. ed: highly recommend checking out the full doc. eight minutes packed wi

also tracking some of those automakers as well as byd.s under pressure after its earnings fell short of analyst expectations, coming down by more than 5%. that is it for bloomberg markets asia. keep it here with us. this is bloomberg. ♪ get help reaching your goals with j.p. morgan wealth plan, a digital money coach in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the way. wealth plan can help get you there. ♪ j.p. morgan wealth management.

byd down .50%. surprising after the tesla report arjun kharpal, thank you >>> time for the check of the top corporate stories with silvana henao. silvana. >> good morning, frank we are watching shares of boeing making another sharp move lower this morning after the faa put new limits on the company's 737 max jet production expansion plans. the agency said it will not agree to any new requests from boeing for expansion and production or approved additional production line force t lines until we are convinced the problems have been resolved. the news has a small sigh of relief with the other airlines will return to service as soon as friday. >>> shares of paramount global popping in the pre-market. sources close to the matter tell cnbc that sky dance and backers are exploring a deal to take paramount private. sky dance has exchanged preliminary information with paramount, but full due diligence has yet to begin it will be national amusements which controls 77% of the paramount voting stock and sky dan

they've been overtaken by their chinese rival byd who posted record numbers on monday.ries for the last three months of last year of over 480,000 vehicles. erin delmore is in new york for us. what does this say about the shifting sands in the electric car market? it underscores the chinese dominance in this growing industry and there are a few reasons why we are seeing such a success and one of those is the massive domestic market that china enjoys and the cheap labour and the strong government support and the strong government support and that means infrastructure investment and subsidies and there is also something to note about the way china has pushed forward these entry—level models, and in the us an electric vehicle is a premium product and it costs more than a regular car but in china we have seen the introduction of models that are on a price point at entry—level, that middle income consumers can buy and this paves the way for the masses to begin adopting the ev technology and another reason why we have seen success in these chinese companies especially because

last year but in particular, byd, they have a huge bus factory in the u.s.ses -- >> interesting >> -- that you see on the road are made by byd. >> i did not know that at all. that's one of the things i love about this job, i learn something every day. thank you for that let's talk a little bit about the chinese domestic market. po produced -- i think you said 30 million units, is that right, over the past year, of which about 5 million were exported? that leaves 25 million or whereabouts to be consumed in china. are those vehicles favored in china because they are low price, number one, because they are -- you're perceived as buying from the home team, number two, and/or because the chinese government subsidizes the purchase of domestically purchased vehicles in a major way? >> right i think a lot of the growth that we're seeing in china comes from that side. if you look at the penetration rate in china, it's 44%. we're talking about a similar rate in the u.s., which is at about 7%, talking about 20% in europe in terms of ev pen traegs but the difference bet

byd clearly took the ev crown.u take the plug in hybrids and full battery electric vehicles. it is a more competitive environment. byd has figured out the cost side of it. the main point i would say is it does not necessarily have to be an all or nothing outlook. healthy share, even if byd and other domestic chinese automakers are gaining traction. sonali: you had so many revisions leading into this moment. where would the upside be if you saw more people come into the stock? where would it come from? >> this is a question we are getting a lot from investors. there are a couple of things you can see that allow people to look past the choppy near-term fundamental outlook. number one would be on model two, the low cost model. we got a line on that this morning. reiterating mid-2025 timing. the more that the model to trade comes into focus, that can be an opportunity. people see model two as an opportunity to get into mega scale. the other area is potentially around full self drive. we've gotten different announcement

you have byd and tesla that are vertically integrated companies. that's why they can move quickly, adjust quickly. and here's the hybrid. they're not producing hybrids, tesla. it's all about the hybrid dynamic, at least for what we heard about toyota, with byd, gm, and chevy. are those guys going to be able to pick up speed on the competitive landscape as byd is doing on tesla in the, you know, pure energy plays. >> how long do these guys, the heads of ford and gm, have? >> well, i mean -- >> and gals. >> and gals. >> i meant guys generally, not -- >> the ford ceo is a georgetown grad, i give him a long leash. >> absolutely. >> phil said, ford f-150, the best-selling car for 30 years. 30 years, ford was $11.50 stock, it's the same today. tesla, real quick, that pennant formation we talked about yesterday, seemingly broken to the downside, something to watch. >> yeah, it's -- this is a hybrid -- it should have always been hybrid. it shouldn't he been ice.c.e. cars and going into ev. it's going to be interesting to see if ford and gm actually take a

byd sales were up 62% year over year which puts them on track to surpass tesla for the ebsecond yeara row. >>> and doordash will expand outside of the u.s. the ceo says it will work with more companies like bj wholesale and sephora. >>> and the pga tour and liv golf looking to extend the deadline from the original date of december 31st, 2023. the pga commissioner says the goal is to reach agreement with strategic sports group and public investment fund and dp world tour. >>> and fidelity cuts x valuation after elon musk's purchase of twitter a year ago. fidelity believes x shares are worth 71% less than the original value. >>> and recalling baby formula due to powder contamination. the batches of powder in infant formula designed for children which are allergic to cow's milk. no illnesses have been reported yet. >>> delta airlines is bringing on half as many pilots this year as it did in 2023. >>> let's get a final check on the market as we kickoff the first trading day of the year. futures with the dow back up close to the highs of the morning. opening 30 points higher. s&p is fract

that's a look at byd and these ev maker's.h stellar numbers for the fourth quarter. and challenging perhaps teslas number one position in china, as they release their sales numbers later today. that's a look at hong kong. this is bloomberg. ♪ >> from the beating heart of global finance, economics and politics, and wherever newsmakers are moving markets. bloomberg brings you conversations that allow for deep conversations and important insights. how has that shaped your strategy for the bank? is this the new normal? that's a great question. i'm francine lacqua, and this is "the pulse" every weekday at 9:00 a.m. only on bloomberg. yousef: this is "bloomberg: middle east & africa." our top storie

byd said monday that it had sold a record 526,000 battery—only vehicles from october through decembercompany outpaced that rate last year. you're live with bbc news. turning to ukraine now: in the last hour, one person has died in a ukrainian drone attack on the russian city of belgorod, according to the region's governor. and in russian—occupied crimea, loud explosions have been heard in sevastopol. it all comes as ukraine accuses russia of deliberately targeting residential areas, after five people died from strikes on the major ukrainian cities of kyiv and kharkiv. the strikes on residential buildings and civilian infrastructure left around 250,000 people around kyiv without power. ukrainian president volodymyr zelensky says, since december 29th, moscow has targeted the country with some 300 missiles and 200 drones. my colleague, sumi somaskanda, spoke with ukraine's ambassador to the us, oksana markarova. ambassador, there has been a fresh wave of russian strikes on ukrainian cities including kyiv, in lviv. if these aerial attacks are a sign of what is to come, you have said it is

byd is a chinese domestic ev maker and they delivered 520 6000 vehicles meaning in their own right, bydw the single biggest maker and seller of ev's. they've taken that crown from tesla. the question they both have his demand. guy: let's talk about rivian. is rivian a demand or supply problem? ed: it seems more demand than supply but supply in the sense we know ev makers have struggled to get vehicles to their customers if their orders have been placed. deliveries fell for rivian which is interesting. they delivered 57,000 vehicles in total for the full year which was ahead of their stated guidance. it was a real ramp-up in production at the end of the year but that sequential slow down and deliveries, was that it question of there was a scramble at the end of the year to get the ev's onto semi's to ship them or is there a problem in converting production into sales? sonali: on tesla, you have axios reporting the value of x was cut down by fidelity again so what does that mean for his endeavors? ed: axios is reporting fidelity broke down the value by a further 11% meaning is valued at a

our top story this hour begins with byd.he year wasn't enough to cement its position in the top spot. the company's deliveries is the closest estimation to its sales figures.

but when you look at tesla versus byd, the fact that byd delivered 8% more vehicles last quarter aloneaks to the fact that demand for evs overall here in the united states is softening and there were i think 3800 car dealerships that maybe a month or so ago they wrote a letter to president biden begging him to relax the upcoming ev mandates which i believe say that two-thirds of new vehicles by 2032 must be electric. so they're begging, they're saying president biden, look at this. we are stuck with these cars. they're sitting on our lots and a we can't move them. now, with regards to tesla specifically, they obviously have some challenges. one of the biggest ones is the fact that their number one selling car, the model 3, it no longer qualifies for the $7,500 tax credit. they get half of that because the batteries are made in china. as you know, democrats elon musk and they're trying to do whatever -- democrats hate elon musk and they're trying to do whatever they can to take him out. maria: quick break, the race for the white house is on. the president finally kicking off his re-elec

spot on the electric car sector heats up as chinese carmaker byd outpaces tesla in sales for the firsts. —— worries. hello and welcome to asia business report, i am steve lai. we begin with byd, the chinese ev maker that officially overtaken the american giant tesla in total fourth—quarter sales. tesla �*s record deliveries up more than 480,000 vehicles in the last three months of the year was not enough to cement his position in the top spot. the companies deliveries are the closest estimation to sales figures. our

ev sales, tell la outsold byd for the full year, though byd is catching up.oughly in line with expectations of 14,000, but production better than the company's guidance. coming in at 57,232. there you see full-year deliveries topping 50,000 vehicles. we will hear from the ceo of rivian, as well as get some perspective on all of what they're expecting for 2024, that's coming up february 21st. melissa, back to you. >> phil, was there any expectation that we would get any numbers on cyber truck? >> no. i didn't expect it. i don't know anybody who expected that. there are people that done some modeling that maybe they might have delivered up to 2,000, but that modeling or produced up to 2,000, that modeling is st strictly -- you got to look around for that, but nothing from the company, and i wouldn't be surprised if we see limited commentary during the financials on the 24th. >> all right, phil, thank you. phil lebeau. guy? >> look at tesla long-term chart. we've been in a downtrend since halloween of '21. uptrend since january this time last year, when it trade

byd sold more than 3 million in total electric and hybrid vehicles last year.: carnival ceo jeff weinstein says the cruise operator is two thirds booked for 2024 and that demand is coming from shifting priorities rather than just post-pandemic revenge tourism. >> 2023 we wrapped in november on the 30th and the one word we like to use is record, we had record demand, record yields, record pricing, record bookings, record on board to spending levels so really across the board the business has really thrived in 2023 and we expect much more in 2024. >> you are such a great gauge of how customers are feeling. are they continuing to spend? >> that is what we see. our q4 from pricing standpoint was the highest all year so it is accelerating, not decelerating and when we look forward, we are two thirds booked for 2024 already. not bad. we are 10 points higher than where we were last year and on top of the ticket bookings, we have started pulling forward on board spend so we have about one third of the onboard spending prepaid in advance so we have a really good about o

wearable -- we are up 2.7% on byd. this is bloomberg technology. ♪ j.p.n wealth management knows it's easy to get lost in investment research. get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find the right investments. so great getting to know you, let's take a look at your new investment plan. ok, great! this should have you moving in the right direction. thanks jen. get ongoing advice; and manage your investments in the chase mobile app. caroline: welcome back to "bloomberg technology." i am caroline hyde in new york. ed: i'm ed ludlow in san francisco. caroline: treading water ahead of important earnings, microsoft and alphabet. we also have had some strong drugs data. the jobs data coming in from jolts and baby that cools the appetite from the market to be buying into stocks. maybe defied what had to cut as quickly as anticipated. crossing the terminal, nelson felt wanting to walk through his strategy. he is going to give us a white paper after disney's earnings.

chinese automaker byd sold over 526 thousand fully electric vehicles in the fourth quarter.ill need a record showing ticket -- to retain its number one status. in total byd sold more than 3 million electric and hybrid vehicles in 2023, almost as many as in the previous five years combined. the u.s. is cutting them -- the number of electric vehicle models eligible for a consumer tax credit as vehicles taken from january. the criteria have/the number of qualifying models to 13 from 24. this excludes ev's that use battery components made by chinese manufacturing. yvonne: we are watching the latest when it comes to the earthquake in japan. good news from nhk, the tsunami warning has been lifted for part of the country after the devastating earthquake. we are still trying to assess the extent of the damage in terms of casualties. at least four people have been killed according to some reports, and of course the extent of damage to infrastructure, there were these fires that broke out in a city this morning where firefighters still are tackling those blazes. more than 50 billion -

is that where the competition is, byd has has been managing to sell at lower prices with considerableesla have to take them head—on? absolutely. if you look around, the number one for electric because today is price. in the united states, the average cost is around $50,000 and in europe, is even higher. china has answers — the $30,000 product already. elon musk understands and recognises that, and says to win out in the future, we really need to have our own sub—$30,000 product, that's the model two. this put enormous pressure on others like gm, ford and volkswagen who struggled today, losing money on much higher—priced vehicles. can they match what tesla and the chinese are doing? that's the big looming question for investors. how important is the china market for tesla? oh, enormously important. more than half of all teslas built were in china, demand is important and it is also an export base. no china, no tesla as we know it today. there wouldn't have been this sensational success without china. going forward, look for elon to diversify risk away from china, new plant in mexico co

>> especially when we're getting daughters points about byd, and as much as it was an exciting story, their story has hybrid. gm, you would think that detroit would be more focused on hybrid. it's easy to say this today. i get it. ev has a story, certainly a sexy story, but when you consider the powertrain mix, and ability to utilize a lot of their infrastructure, and again, where tesla and byd, these are vertically integrated companies. in a lot of places, detroit has tried to move very far away from that. the hybrid keeps them in their wheelhouse. it's where the customers are going. >> do you think it was more political driven why they companies went that way? i feel like there's a healthy amount of that, right? i think it's 80% pushing ford and gm to get certain benchmarks, what is the level? 20? 30? >> you have to lower emissions. >> so they can own that market. tesla owns the ev market. they could really own that market. it makes me think about what critical element goes into these cars. that's a whole other level. lithium, cobalt, nickel, all those things you don't need anymore,

you know, we learned today that byd , the big chinese today that byd, the big chinese manufacturer, hassla in terms of number of cars that it's manufactured and sold in the last half of 2023. china the streets ahead of all the rest of us on ev. i mean, evs are batteries or wheels, aren't they? basically. i mean , i mean, they? basically. i mean, i mean, are we strategically just giving this all to china? >> there was a bit of a moment when brexit didn't do the best job for the indigenous manufacturing base of this country, so the likes of jlr have lost a couple of years because of all the concerns over brexit. and where that leaves indigenous manufacturers. >> i heard the same when we didn't join euro, by the didn't join the euro, by the way. i mean, that's is way. but i mean, that's that is a debate. we're a separate debate. but we're giving this to china on a plate, aren't giving this to china on a plate, areiwell, china, china are taking >> well, china, china are taking advantage a in time, advantage of a moment in time, a shift to clean energy to electric vehicles. they're doing wha

>> to start we partner with byd, and we focus on trucks. market in indonesia is five point 9 million trucks. by 2030, the government of indonesia has mandated that no more registration plates being issued if you are not ev. that's just one indonesia. the market itself is at least between a quarter trillion u.s. dollars to three quarter trillion u.s. dollars. i see this happening not only in indonesia but also southeast asia and of the world. yes, of course, europe and america is going through some challenges but i think decarbonization is a must because this is about climate change. which 2023, we're not doing too well as a global citizen and so on. the pressure to continue to do whatever you can in terms of decarbonization will be there. tom: china a major trading partner for indonesia. we're seeing concerns about the health of the chinese economy. what demand are you seeing from your chinese customers for input prices for commodities, nickel in particular? >> in the u.s., for a sample, indonesia has been blessed to get investments includi

byd sold more than 525,000 of its evs between october and december. tesla reports 484,000. same time frame. however, tesla still outpaced its chinese competitor for the entire year, but analysts predict byd is the up and coming electric vehicle because of its very low starting price of just about $10,000. no plans yet, though, to sell them here in the us starting today, you can use your own cups at starbucks for all your drink orders. customers have been able to use their own reusable cups in store for some time, but now starbucks is adding the reusable cup option to drive through and app orders. it's part of the company's efforts to reduce the massive amount of waste it produces. now, they won't accept reusable cups larger than 40oz. the holidays are over, but the credit card bills are now due. a new poll shows half of the americans surveyed don't think they can pay off their december debts in full. americans owe a record high $1 trillion on credit cards. the finance company lendingtree conducted the monthly survey and says only 51% say they're confident in paying off thei

>> byd has done a phenomenal job.it's tesla and byd, gaining shares from neo and others. in china the view in the last few quarters there were fears this price war was going to continue. it hasn't. see now to phil's point you're seeing price stabilization. that's very important because now, the goldilocks scenario, margins upticking, demand upticking, that's where, in our opinion, you see a trillion dollar market cap for tesla over the next year. despite many of the haters continuing to hate. >> i have goat your take on apple this morning with barclays revealing its downgrade over cooling iphone demand. do you agree with the assessment? are your channel checking showing the same thing? >> the last 48 hours it hasn't changed from what we've seen over the last month. look, i get some of these calls from evaluation perspective and many have been naysayers over the last year, but if i look at iphone 15, we have not seen number cuts from our checks in asia, and that's important, because i think it shows this upgrade opport

ed: in the quarter just gone, byd biltmore pure battery electric -- built more pure battery electricles than tesla did. they have more competition particularly in the chinese market. the stock has been under pressure and is trading at its lowest level since november. we are on course for a third straight week of declines. but part of that is just the new year reset that we have seen across the nasdaq and other stocks. autopilot is just an ongoing story. guy: ed, i stuff, looking forward to continuing coverage. "bloomberg technology" coming up, caroline hyde, ed ludlow. this is bloomberg. ♪ you know what's interesting these days? bitcoin. look for bitwise, my friends. air travel can feel like a nightmare. but for one in four americans with disabilities real nightmares happen every day no accessible bathrooms on most flights. 31 wheelchairs damaged daily by airlines. disrupting lives, sometimes for months. so many other barriers to safe travel. change isn't easy, but we can build the world's most accessible travel system. help us make sure airplanes connect everyone. to family and frie

bull will talk about that, is in question, at a time when people are -- there's some bigger issues, byd, we know the headlines there, in terms of which they overtook them i don't think that's a big deal, and i think the byd cost structure and asp structure, very different than tesla. but it's not an easy time. stock's already had a lot of bad news priced into it. i think the price action here is better than i would have expected >> questions around the growth part of the business for tesla, but growth part of the market in general. >> yes so, i agree, to your point, about them talking about, we're going to be transitioning to newer models that's a big difference than notably -- than notably slower for no other reason, right so, we don't know exactly when or how, sometimes they delay, things take longer than they think, but the more i've been talking about tesla and the ev slowdown, the more i think they should be putting as much pressure as they possibly can on the gms and fords. when my husband and i watch one of those, you know, action movies, they always leave the villain almost dead

you know, byd has been in the battery business for a long time with apple. their ability to be superior in producing electric vehicles. i recently saw a photo of china's master control center for charging stations. they can tell you every charging station, whether it's working or not. they can tell you the utilization. we don't have anything close -- elizabeth: wow, that's amazing. >> and yet -- elizabeth: you know who really knows it? the auto dealers. they're saying, you know what? stop it, white house. you know, the car a makers are losing billions because consumers don't want them. the car inventory, electric car inventory is now at a, like, four months when, you know, it's about a half that for a gas vehicle. consumers are a saying we don't want them. electric cars scare us. they're unreliable. the charging's not there. the battery gets drained because they're trying to keep warm inside the car, so that's why battery gets drained, and they're say, you know what? go hybrid. why not just take the one step? why go just all in? it feels like probably a cost

as part of the business program of the visit, shavkat mirziyoyev visited byd headquarters in shenzhen a solemn atmosphere , the production of electric vehicles was launched in the jizzakh region. and the first uzbek-chinese interregional forum was held in urumqi. chinese entrepreneurs were presented with an exhibition made in uzbekistan. an agreement for $70 million was signed. indeed a visit with a lot of concrete results. but the prospects are even more interesting; we’ll talk about them with sergei sanakoev, head of the center for studies of the asia-pacific region. how would you could you characterize the results of shavkat mirzioyev’s three-day state visit to china and what main agreements would you highlight? well, if this summit can affect our bilateral relations, only in a positive direction. let me remind you that we are all members of the shanghai cooperation organization, where we interact very actively. we are seeing investments in the field of clean energy, we are seeing cooperation in the field of logistics, the construction of a new railway, a new logistics corridor thr

as part of the business program of the visit, shavkat mirziyoyev visited the headquarters of byd in shenzhenhere, the production of electric vehicles was launched in the jizzakh region. and the first uzbek-chinese interregional forum was held in urumqi. chinese entrepreneurs were presented with an exhibition made in uzbekistan. agreements for $70 million were signed, indeed a visit with a lot of concrete results, but the prospects are even more interesting, we’ll talk about them with sergei sanakoev, head of the center for studies of the asia-pacific region. how could you characterize the results of shavkat mirzeev’s three-day state visit to china, and what main agreements would you highlight? well, if this summit can affect our bilateral relations, only in a positive way. i remember that we are all members of the shanghai cooperation organization, where we interact very actively and certainly find mutually beneficial projects. in general, the thesis that russia and china compete in the central asian market was thrown at us by the west and is completely untrue. on the contrary, we cooperate,

and now the byd brand has surpassed tesla in global sales in the fourth quarter of last year. look on the one hand at the rising price of oil, on the other hand at the rising ruble, which makes shares of russian exporters less attractive, but as we see, optimism still outweighs today. the ruble is trying to continue yesterday's imitation, the dollar costs 89.45, here the euro went below 98 rubles. starting today, sberbank has increased rates on basic mortgage programs, now at least 16.7%. sberbank explains the increase by an increase in the key rate. on december 15, the central bank increased it to 16%. sber also emphasizes that rates for programs with state support do not change. for preferential mortgages it is 8%, for... these programs expire in july of this year and the big intrigue now is whether they will be extended, if so, and then in what form? at the end of last year the government tightened the conditions for issuing a preferential mortgage, the minimum down payment for it was increased from 20 to 30%, and the maximum loan size for moscow, st. petersburg, the moscow

byd down more than 4%. ev sales for the first week of january had missed consensus, falling 20% on month, missing consensus. heist single-digit to double digit month on month pace according to citi. not good news for those ev plays, currently in negative territory. we also want to bring you to the philippines, where the indonesian president is in the country to meet with his counterpart in the philippines. he has said before that he wants to talk about the south china sea. it is an area that is important to countries around this region given the growing presence of china and how china has become pretty resistant than its attempt to control the area. he is speaking in manila after meeting with his counterpart during his visit to the country. plenty more ahead. keep it here with us. this is bloomberg. ♪ c'mon, we're right there. c'mon baby. it's the only we need. go, go, go, go! ah! touchdown baby! -touchdown! are your neighbors watching the same game? yeah, my 5g home internet delays the game a bit. but you

we're learning that hybrids are really a model that are working, especially for people like byd who areing, i think, some of the thunder right now. that's really the story. and that's the story that plays back into the stock, because margins have been shrinking even though they've been growing outside of everyone other than byd. >>> coming up, high-end luxury may be regaining its luster and catching the eye of investors. we'll discuss the good and bad next. more "fast money" in two. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones covid-19? i'm not waiting. if it's covid, paxlovid. paxlovid is an oral treatment for adults with mild-to-moderate covid-19 and a high-risk factor for it becoming severe. it does not prevent covid-19. my symptoms are mild now, but i'm not risking it. if it's covid, paxlovid. paxlovid must be taken within the first five days of symptoms, and helps stop the virus from multiplying in your body. taking paxlovid with certain medicines can lead to serious or life-threatening side effects or affect how it

speaking of ev makers in china, byd is nipping at the heels of tesla.t sold a record 526,4009 vehicles in the fourth quarter of 2023, that tops tesla's $4480,506 -- 444 -- [inaudible] byd made 3 million cars last year, nearly double tesla's 11.844 million vehicles -- 11.8. we know a lot of you, whether you own the stocks or not, are considering it or have said no way. our very own jeff flock is hitting the road in a tesla model y to test out how an ev facer on a lengthy road trip. -- faris. jeff is on the indiana leg of his trip. how's the model y holding up? if. >> reporter: i like it, liz. you know, i'm like you, you were an early adopter of the tesla, and i tend to be positive about it. i haven't had one myself, but, you know, it's an eye-opener. as jim farley, the ceo of -- [audio difficulty] and, you know, that's what it's been. i don't know if dan can see out the window, producer dan -- [audio difficulty] takes some getting used to. if you owned an ev is, perhaps you kind of get used to it. it does take longer. i think that's what we're going to f

american corporation. is experiencing increasing competition from chinese companies, primarily byd.he conglomerate sold a record 944,000 electric vehicles, surpassing tesla for the first time. it was economic news, briefly. first the rule of the hunt is that it starts at any second. the second rule of hunting: the prey goes to the one. who is chasing her? new game hunt, draw every 15 minutes, main trophy from 20 million. hunt, test your instinct, 100 lotto. apartment in moscow count five. only five purchases from 1.0 rub. with any sberbank credit card until january 31, an apartment in moscow can be yours. and if you don’t have a card yet, get a free credit card for 120 days without interest. you win! with the best credit card in the country, one of my friends has a difficult relationship with the internet, cool video, how high is the speed, and what is the wide coverage? where are we going to where no one has seen your videos yet, although the megaphone even picks up there, the number one mobile operator in terms of speed coverage. good afternoon, my name is victor and i am an entre

the company trailed china's byd in terms of overall deliveries i the fourth quarter. in the case of rivian, they missed estimates and wall street never likes that kind of development. shares down 10%. sonali: we are going to talk more about the commodity soil. -- 20 story. oil is paring its gains. attacks on merchant ships have led to the rerouting of everything from container ships to gas carriers. as discussed those risks. take you for joining us today. any energy we did see this spike higher and no lower once again. how are traders factoring in the grave threats we are seeing in the red sea? >> right. half of the fleets going to the red sea are being rerouted. we are seeing them go through the cape of good hope for example. traders are taking this too seriously. there been a lot of headlines the past few weeks. the risks we are seeing in the middle east, -- i'm sorry about that. the risk we are seeing are the middle east, a lot of headlines are coming in every day and traders are having to evaluate whether that is going to contribute to an actual conflict in the mi

tesla is taking a backseat as the world's largest battery ev seller china's byd is now dominating theustry beating out tesla both sales in affordability can tesla retake the lead read on the "barron's roundtable" ben levisohn, carleton english and andrew bary. the market barely missed hitting an ugly milestone this past week. >> it did it came very close to finishing down for the first four days of the year end it's basically acting as hung over as i felt on january 1. it makes a lot of sense and had a great two months. the stocks that it might not want to ton of went up and up like cruise lines and semi conductor stocks and people woke up this year end said wait a minute did i buy too much of the stuff reducing a lot of those things get hit and a lot of other stuff that did pretty terribly last year to better such as advance auto parts, pfizer, they all gained, this is the week where the market is trying to sort out what happened last year end get ready for the rest of this year. jack: four straight days would've been since 1928, the jobs report came out friday morning and looked rea