Story: EV giant Biant said Tuesday it raised nearly $5.6 billion in stock sales.
This makes it the largest list in Hong Kong for four years.
Now, the Chinese company plans to use the funds to increase R&D spending and expand overseas.
Bied quickly became the country’s largest automaker.
But more than 90% of the 4 million sales last year were in its internal market.
There accounts for more than one-third of the total cargo of electric and plug-in hybrids.
In February alone, it launched 21 new electric vehicles to stay competitive at home.
The company is also stepping up recruitment, with its goal of selling up to 6 million vehicles this year.
This will make it roughly equivalent to a general-purpose motor.
As part of the driving force, it is stepping up export efforts, and Brazil is currently its largest overseas market.
Now, stock sales reflect an increase in optimism about the technology sector in China and Hong Kong.
The sentiment has been cancelled after the senior executive summit of senior executives led by Chinese President Xi Jinping.
Investors see it as a government plan to provide more support to the technology sector.
As of Tuesday afternoon, BYD stock was down more than 6%, in line with the discount on stocks listed.
Stocks of major exporters were also under pressure after Donald Trump confirmed that he was putting pressure on new tariffs, including Chinese goods, including Chinese goods.
