0239 GMT - Sales of electric vehicles and hybrid cars in China will likely rise 55% in the second half of the year compared with the first half, Citi analysts write in a note. There will likely be strong export growth in the sector as well, they add. If recent price cuts by major EV makers such as BYD, Zhejiang Leapmotor and Chongqing Changan Automobile can help lift the EV penetration rate to 60% in the third quarter, supply and demand would be in equilibrium again, they say. A rise in competition would accelerate market consolidation and reinforce BYD's leading market position, thanks to its unique product pricing power and leading cost advantages, Citi says. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
May 28, 2025 22:39 ET (02:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.