BYD's Charging Milestone Overshadowed by Margin Squeeze and Geely's Small-Car Surge
Published on 09/26/2026 at 13:21 | Editorial boerse-global.de
BYD closed Friday's session at EUR 8.84, down 0.8% on the day, as a combination of rising US Treasury yields and firmer oil prices weighed on Chinese electric-vehicle makers into the weekend. The broader sector also absorbed softer order data, with Citigroup dealer surveys showing EV orders for Chinese manufacturers fell 29% year-on-year in the third week of September.
The pullback caps a difficult stretch for the stock, which has shed 25% over the past twelve months and is down 17% since the start of the year as investors price in persistent discounting at home. Morgan Stanley trimmed its target on the shares from HK$121 to HK$114 on 15 September while keeping a Buy rating, and Citi raised its export forecast for BYD on Thursday after September order momentum had earlier shown improvement.
Charging Network Hits Its Target Early
Against that unsettled backdrop, BYD continues to build out the infrastructure underpinning its home-market dominance. On Thursday the company commissioned its 2,000th highway fast-charging station at the Baoying service area in Yangzhou, completing its annual highway build-out goal ahead of schedule. Nationwide, the manufacturer's charging network now spans 11,586 fast-charging points across 341 cities.
The rollout has been swift: BYD opened its 10,000th proprietary charging station at the end of August, and Deutsche Bank analysis indicates the company intends to reach 20,000 stations by year-end. Second-generation Blade batteries are designed to take a charge from 10% to 97% in nine minutes — a capability rival Geely matched with its own technology unveiled on Wednesday. Infrastructure remains the bottleneck, however, since most public charging points in China still operate at far lower power levels, and upgrading local grids continues to hold back widespread ultra-fast charging.
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A Bigger Seagull Takes Aim at Geely
BYD is preparing a comprehensive redesign of its Seagull compact EV, with filings from China's Ministry of Industry and Information Technology pointing to a launch before the end of the year. The second-generation model grows to 4,205 mm in length and adds a fifth seat, while a permanent-magnet motor delivers 95 kW and a top speed of 150 km/h. LFP batteries from subsidiary FinDreams provide a range of up to 420 km.
The upgrade answers a widening gap in China's volume segment. In August, the first-generation Seagull notched 10,103 deliveries in China, while Geely's Xingyuan model recorded 39,651 sales over the same month. Beyond its larger footprint, the new Seagull brings advanced driver assistance to the entry segment, with roof-mounted sensors and the DiPilot 300 system available as options on higher trim levels.
Commercial Vehicles Head to Europe
On the commercial side, BYD Commercial Vehicles used the IAA Transportation show to present an expanded European lineup. Among the new entries was the ETT 44 heavy electric tractor, equipped with a Blade battery of 651 kWh, output of up to 1,000 hp and a stated range of 600 km. The company plans to bring its first heavy truck to Europe in 2027 and is targeting local manufacturing over the longer term.
Industry Margins Under Pressure
The aggressive competition and relentless product upgrades are leaving marks across manufacturers' financials. Chinese automakers' profits fell roughly 20% in the first seven months of the year compared with the same period a year earlier, according to media reports, as rebates and heavy development spending erode profitability sector-wide. That pressure is the backdrop against which BYD is simultaneously expanding its charging footprint, refreshing its entry-level lineup and pushing into European commercial vehicles.
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BYD Stock: New Analysis - 26 September
Fresh BYD information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
