lizzy: the big question, could byd be tesla and be the world ev champion?question. we are watching to see how byd performs domestically as well as globally. we all know chinese ev's are facing trade action from key markets such as the eu and us, so we can momentum slowing down for chinese ev exports a could affect out byd's numbers to overall in 2025, and looking at tesla if they could get more products at affordable pricing this year that could possibly lift their sales. so we are really trying to see which of these two, byd or tesla , will get the sales crown for the best-selling ev brand for 2025. lizzy: she will continue to monitor 2020 five. i went to stay on china and check in on markets this morning, because chinese doctor having to restorative year in more than a decade. csi 300 down 3.6%. investors citing economic uncertainty surrounding donald trump in china stimulus. we have weaker than expected manufacturing data out this morning, caixin pmi number. trading volume high in hong kong, low in shanghai and shenzhen. investors are waiting for more ca

you see the byd numbers. still number one for '24 in terms of global ev deliveries, byd continues to grow at a very rapid pace. >> very close. i mean, again, they sold 4.3 million, i believe, evs and hybrids in 2024, byd, and i have it as 1.6 million evs last year, so very close. >> 1.76, so very close. >> and your point, the shanghai plant for tesla obviously fills the domestic market there and also other areas and regions nearby, isn't that right, for tesla? >> for tesla china is an export center. >> right. >> production center. >> right. >> so while it supplies the bulk of the supplies go to the china market, and southeast asia has really become an area where chinese ev companies are targeting their growth, and they are targeting their growth overall for auto sales in asia, but especially when it comes to ev vehicles. you add them up, david, and you start to see where the growth is globally for the chinese ev players. >> i remember your trip to -- what countries were you in when you were taking a look -- >

but i really don't want to con flate the two, between byd and tesla. tesla is compressing margins and driving up sales and pushing out competitors. we're not talking about a state-backed agency, a state-backed enterprise. though, that may be what -- >> there's a joke in there. >> but my point is, i don't think the comparisons should be between the two, and that inform an investor if tesla is worthwhile. they've just pulled back from that unprecedented presidential of, what was it, a 60% run, 40% run since november -- >> 70% run. so, they've given up 20%, 25% of that. i think you have to put that in context before you say tesla is no longer investable. >> clearly, the market wasn't prepared for it, on the back of the selloff, right? so, maybe people were expecting it, but in terms of market positioning, it wasn't, given the move we saw today and given the amount of shares it traded. with that said, you know, i'm still surprised it's trading on delivery numbers. now, it's about robotaxi and all those other things they've been promising for quite some tim

chinese rival byd said this week said that its electric car sales grew double digits last year to aboutobally. and it is notjust chinese ev makers snapping at its heels. legacy global carmakers like gm volkswagen and hyundai are also vying for market share. tesla has responded to slowing demand for evs by cutting vehicle prices in china and the united states. elon musk has also pivoted the country to focus on robotics and artificial intelligence. that is still a way off and for now tesla remains dependent on car sales to make money. shares in tesla fell 6% on the news but it is worth noting that the stock ended 2024 up more than 60% with most of those gains coming after the us election. investors are betting that elon musk�*s closeness to donald trump will help his businesses. sir nick clegg, the uk former deputy prime minister, is stepping down from his job as president of global affairs at facebook owner meta. he said in a post he will be leaving the tech giant after seven years, replaced byjoe kaplan, who served as the deputy chief of staff in the white house during the george w bush

chinese rival byd said this week that its electric car sales grew double digits last year to about 1.76lobally. and it's notjust chinese ev makers snapping at its heels. legacy global car makers like gm, volkswagen and hyundai are also vying for market share. tesla has responded to slowing demand for evs by cutting vehicle prices in china and the us. elon musk has also pivoted the company to focus on robotics and artificial intelligence, but that is still a ways off. for now, tesla remains dependent on car sales to make money. shares in tesla fell 6% on the news, but it is worth noting that the stock ended 2024 up more than 60%, with most of those gains coming after the us election. investors are betting that elon musk�*s closeness to donald trump will help his businesses. earlier i spoke to dan ives, global head of technology research at wedbush securities. he's long been bullish on tesla's prospects. i asked him whether musk�*s increasingly controversial politics might be an issue for the company. definitely a risk in terms of alienating some customers, especially ones that are super

has seen risk coming from carmakers like byd.er this year the biden administration imposed steve tariffs on imports into the u.s. of chinese electric vehicles. really designed to keep them out of this market, to avoid undercutting the efforts to get domestic carmakers here to develop ev's of their own, with advanced technology of their own. katie: we are talking more than two weeks before the inauguration of the second trump term. what is the mood music when it comes to the second trump administration and china? being hawkish on china is a bipartisan vibe, but what would you imagine the trump administration's response would be to actions like this? mike: it's time to pull back the lens and see this in the broader context of the u.s. china relationship on technology. the biden administration has been imposing restrictions on a lot of sensitive technology, including exports of advanced semiconductor making equipment and high-bandwidth memory chips, two of the most notable moves made by the u.s. in recent months. those are designed

of the chinese ev maker's, of which tesla only just retained its crown as the biggest ev seller from byd25,000, so the competition is really breathing down its neck. lizzy: we have discussed that rivalry earlier in the week. i wonder whether these results from tesla change the narrative more broadly for ev's? >> i think, for tesla given it had so much to do towards the back end of the year, i don't think it changes the fact that when you look at someone like byd even tesla, frankly, they are still in a robust position compared to the legacy automaker sector who are laggards and find it difficult compared to brands such as tesla who can still attract many thousands of sales. lizzy: bloomberg asia transport reporter danny lee. i'm not sure if teslas have hoods. but nonetheless, thanks for looking under the hood with us. now to some other stories making news this morning. apple shares slipping after reuters reported the iphone maker is offering discounted smartphones in china. the fourth down day marks apples longest losing streak since november. reuters says the discounts will run from jan

rival byd deliveries were great. we'll debate it. >>> this name may be unloved.t has lots of catalysts. there's a couple clues in there. tweet me if you think you know it. we'll get to it later on. >>> today's markets started off strong, are looking weak this afternoon. a lot of people are worrying about the tone this could set for the year. >> santa claus rally is nop existent. santa claus fade. first two trading days of the new year make up the bottom end of that santa claus rally. it's not looking very good right now. any way, as kelly points out, we were green to start the day and actually decently and given back the gains and are now in negative territory for all three major indexes. dow down 275 points, two third of 1% decline. s&p 500 is at 5844, down 37 points. it's roughly similar percentage decline there. and by the way, just to kind of look at things, we were up 54, up actually 54 points at the highs and down roughly 47 points at the low. so tilting towards the bottom end of that range. the nasdaq composite, the tech heavier side down .75% to 19,166, 1

yes. >> that he can sell the byd. and got ahead of himself saying it's the largest ev company in the world. as of the last numbers, not quite. tesla was still ahead on evs >> we do have tencent down as a chinese military company. >> i think that that's -- that's the new world which is that we find that these companies that spy on us, companies that have any sort of technology can be used military, we're taking them out. >> yeah. although speaking of spying on us, the incoming administration i think is not going to try and shudder tiktok, and we're -- shutter tiktok, and we're waiting for the supreme court to rule. >> what did you think about the battery, ford's battery company? i think that's significant that that, too, is on the list. we don't know what the list means. just like when biden banned all drilling yesterday -- >> that was offshore drilling. >> i forgot, today is onshore. today is onshore. how about the permian. you shut permian down? >> you seen the production numbers? >> when he's speaking about permian

what about, you know, byd cars? sure, it could spread, but for now, the concern is data, social media, young people. and that's why it hits tiktok and would hit red note. but meanwhile, in the short term, it's kind of interesting that there are people who are doing this, apparently partly as a protest to say, i'll find another chinese owned company if you won't let me use this one. at the same time, there is something to the algorithms that chinese owned companies are doing that people find very attractive, very intuitive to what we like to see. and it works, and people are enjoying them, at least for the short term. yeah, sure. okay. short term. well, speaking of when do you think we'll hear from the supreme court about this? and then if they do uphold the ban, let's say there's an american company that that may potentially buy it would then that just cancel all of this? yes. if they do it by the 19th, because the ban would say and does say if tiktok is still owned by bytedance on january 19th, it's banned in the u

and tesla is falling behind, byd and other things in terms of innovation and new products. that's why its sales are off for the first time, global sales are down. so, he's not paying attention to the other companies. a.i. is a big interest of his, obviously, and he's doing that by suing openai and -- >> he's -- is he trying to destroy openai? >> yes, yes, because he created it and they moved on without him and that will not -- elon musk will not put up with that. >> you've done fascinating interviews with sam altman. >> i think openai is way attention, head, and that's the problem. everyone thinks that elon is an entrepreneur, and he is, but he's a better person. he didn't create tesla, for example, or some of the other things, he is just a good business person. a henry ford character. and i think what's interesting, he uses lawsuits, noise, he uses attacks, personal attacks, he uses his now twitter, he uses that, or x, whatever you want to call it. he uses all his tools to do these things. and they're often the same, they're all to create noise and attention on him. becaus

there is a price war going on with byd and other chinese manufacturers.es present a challenge to them. interestingly, tesla is kind of positioned in the chinese market is by comparison to the chinese manufacturer. tesla is a brand that will be associated with them. when it comes to europe, it is a different situation. there is an issue, especially in the uk, with the retail customer just doesn't want electric vehicles at the moment. also in europe, through 2025 for the ban to take place in the internal combustion engine. it could do well in the states. i think it can compete in different segments in china. in europe, i think it has bit of a cklog. >> jim, it's arjun here. tesla's margin and how that has been pressured highly by this price car happening globally and china as well. also, when tesla introduces a more affordable mass market car which has the potential, again, to dampen margins further. how important is it for a new model for tesla for them to regain growth? >> i think they need to -- it's a fairly bland vehicles they have in the product range

and because he has actually struggling in china, byd and other auto manufacturers are killing him over, the autonomous vehicle technology, to china. that would be sort of a transfer of very sensitive technology and what we know is that china to support to its own firms to use it to undercut competitors. so that is exactly what this provision in the outbound investment review legislation was designed to kind of prohibit or at least hinder. and elon musk does not want any review of his outgoing and distance in china. that is just one of, i think, many points of conflict between him and the maga base. >> quickly here, in the last 40 seconds, the prediction a lot of people having putting myself is that there is a collision course and the town is not big enough for the both of them. what you think of that? >> i think it really depends on his moves within the next six months or so, and how often you on a noise a large percentage of the maga elite, including donald trump himself. for now he is. >> have a happy new year. >>> still to come, the high- profile heists of athletes across the countr

dollar, you can create an accord saying we will give up some access to the u.s., maybe a byd factoryh that, you get a much stronger chinese remedy. with those type of environments what you can see is to reduce the trade deficit and to have that work with the u.s. as a big export, you need to find a way to weaken the dollar. i think those are the kinds of things you're going to see at the currency market that will actually change the outlook for the dollar, and the rest of the world catching up. jonathan: i imagine we would have to see a whole lot more dollar strength before we got to that point. how much more? >> we are looking for the bloomberg dollar index to revisit 1350. that is sterling below 120, we don't think this is going to feed directly into dollar china. they can use the fixings that means korea is to weaken, the mexican peso is going to hit a new low. this is a broad dollar move, so i think again if we add from where we started last year, because most of the context around the dollar last year's everyone was very bearish on it, and that changed quite dramatically, i thin

byd chalking up a record in china. everybody's problem. a vicarious trade.ed microstrategy to bitcoin? the correlation is beginning to unpick a little bit. bitcoin up 121%. it is a three to one leverage ratio. the relationship is just breaking down ever so slightly in the last month of the year. a coalition of the willing. bernstein, td. 70% upside on this if it continues to trade in the style it did last year. jonathan: thank you. manus is right. 1966. for anyone who lived in england, you will have heard about 1966. it was last time the male football team won anything at all. lisa: i love that is where your mind goes. we are coming up with the sizes and scopes. it speaks to the santa claus rally that did not happen. people had to feel good and this year to did not feel good. jonathan: if you see that year, 1966. lisa: it is like 1986 for americans. jonathan: maybe you are happy it has been so long if you are english. lisa: this was not a my bingo card for today. thank you, manus. jonathan: providing some confirmation. let's get to syria stories. federal law

byd began taking orders on the model y. it starts hundred 36,000 u.s. has a single charge range of over 370 miles. the model y is one of china's best selling dvds signaling tesla's effort to inject excitement to the line and china and increased domestic competition. that is your bloomberg green. jonathan: what a tough market it is in china. up next, signs of softness. >> people are not feeling is countable that they can find a new job if they leave their job. those are the kinds of signs of softness we are seeing in the data that we think will continue to feed through. jonathan: looking for 120. the low end of major banks. the range is wide. 120 all the way to the 200. the median estimate is 165 on this payables friday. good morning -- payrolls friday. good morning to you all. ♪ [city noise] investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? (♪♪) or, let curiosity light the way. at t. rowe price, we're asking smart questions about opportunities like clean water. and how clean water advances can help transform