Short Sellers Gang Up on China’s EV Leader ...Middle East

Short sellers have raised their positions on BYD, China’s—and the world’s—largest manufacturer of electric vehicles amid expectations of weakening sales. BYD recently dethroned Tesla from the top spot among global EV sellers after it closed the final quarter of 2023 with higher sales than the U.S. major. It sold more than 526,000 cars in the last three months of the year, while Tesla delivered a little over 484,500. BYD, which is backed by Warren Buffett, can boast a 60% sales increase for 2023, with total sales—hybrids…

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