Tesla And Chinese Rival BYD’s $649 Billion Valuation Gap Unjustified, Bernstein Says

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Topline

Chinese electric vehicle giant BYD is a wiser investment than its American counterpart Tesla, Bernstein analysts contended in a Monday research note, laying out a case for the peers’ valuations to converge and maintaining its pessimistic outlook for Tesla following the Elon Musk-led firm’s 120% share price surge in 2023.

Key Facts

Bernstein’s Toni Sacconaghi and Eunice Lee said they “struggle to…

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