BYD A-shares surged over 8% at one point, with total market value returning to the trillion-yuan mark

How AI and Rising Oil Prices Are Boosting BYD’s Market Value Back to Trillions

On March 23, BYD (002594.SZ) opened higher, with intraday gains exceeding 8%, bringing the company’s total market value back into the trillion-yuan range. As of the latest update, BYD is up 6.58%, trading at 109.81 yuan per share.

In news, at midnight on March 23, domestic refined oil prices will rise again, providing a positive boost for new energy vehicles.

It is reported that at 24:00 on March 23, the sixth round of domestic refined oil price adjustments will take place, with the price of 92-octane gasoline expected to increase by more than 1.6 yuan per liter. Currently, international oil prices remain significantly higher than the average price during this cycle. Industry analysts suggest that if international oil prices do not decline sharply, domestic fuel prices are likely to see further increases.

Since March 2022, BYD has ceased the production of traditional fuel vehicles and has focused on pure electric and plug-in hybrid vehicles in its automotive segment. Data shows that BYD’s total sales in 2025 reached 4,602,436 units, a year-on-year increase of 7.73%, with pure electric models accounting for 2,256,714 units, up 27.86% year-on-year.

In 2025, BYD surpassed Tesla in annual electric vehicle sales for the first time. Tesla’s global deliveries in 2025 totaled 1.636 million vehicles, a decrease of about 8.6% year-on-year, marking its second consecutive year of decline.

Facing fierce competition in the electric vehicle market, BYD has also announced new battery and charging technologies this year. On March 5, BYD launched its second-generation Blade Battery, which can charge from 10% to 70% in just 5 minutes, and from 10% to 97% in only 9 minutes. BYD Chairman Wang Chuanfu stated at the technology launch that the second-generation Blade Battery will be first equipped on 10 models, covering BYD’s Dynasty, Ocean, Denza, and Yangwang series.

Additionally, BYD has introduced the “Flash Charging China” strategy, planning to build mass rapid charging stations nationwide. By the end of 2026, the company aims to complete the construction of 20,000 flash charging stations, including 18,000 “flash station hubs” and 2,000 “high-speed flash stations.”

The Middle East conflict has driven up global oil prices and also increased the appeal of electric vehicles in Southeast Asia. Reports indicate that a BYD dealership in Manila’s financial district has recently seen booming business, receiving a month’s worth of orders in just two weeks.

In recent years, BYD’s overseas sales have grown rapidly. In 2025, the company’s overseas passenger car and pickup truck sales reached 1,049,600 units, a 145% increase year-on-year. In January-February 2026, BYD sold a total of 400,200 units domestically, with overseas sales exceeding 200,000 units.

To expand its presence in international markets, BYD is also exploring entry into F1 racing. According to Yicai, a person close to BYD confirmed that Vice President Li Ke recently stated that BYD is studying the possibility of entering top-tier motorsport competitions, including F1 (Formula One), but has not yet made a final decision. Li Ke said that participating in the world’s highest-level racing aligns with BYD’s long-term technology-first strategy. He also mentioned that BYD is still evaluating the feasibility of entering F1 and endurance racing.

Market sources also indicate that BYD is considering two approaches to enter F1: acquiring an existing team or building a new team from scratch, with the company favoring the former.