BYD's Bold Move Could Open It Up to New Markets. But Is the Stock a Buy?
If BYD pulls off a successful launch of its Racco minicar in Japan, it'll be the latest sign that the Chinese automaker can achieve nearly anything it wants globally.
Overview
Chinese juggernaut electric vehicle (EV) maker BYD (OTC: BYDDY) surpassed Tesla in full electric vehicle deliveries last year. When comparing total global deliveries, BYD even overtook Detroit icon Ford Motor Company.
Now, electric vehicle maker BYD plans to overtake Toyota in five years, which would require it to more than double its deliveries last year. To achieve its goal of becoming the world's No. 1 automaker by volume, it will need to expand rapidly internationally, including entering markets where few automakers have dared to go: Japan.
The BYD Racco. Image source: BYD Co.
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Originally published at www.fool.com.