Tesla shares fell after Chinese electric vehicle (EV) manufacturer BYD reportedly unveiled a new ultra-fast charger capable of fully charging a car in just five minutes.
BYD plans to launch vehicles equipped with this technology next month. The company claims that its Super e-Platform provides a range of nearly 250 miles in approximately the same time it takes to refuel a gas-powered car, according to Bloomberg.
The company has yet to respond to requests for comment.
BYD Shares Soar While Tesla Stock Declines
Shares of BYD surged to an all-time high in Hong Kong following the announcement. Meanwhile, Tesla’s stock dropped more than 5% intraday, falling to around $224.
Tesla is reportedly planning to roll out a more affordable version of its Model Y SUV in China next year, but concerns over competition and regulatory hurdles have put pressure on its stock.
Analysts Cut Tesla Price Targets Over Self-Driving and Robotaxi Concerns
Financial analysts have lowered their forecasts for Tesla, citing concerns over its self-driving technology and robotaxi rollout in China and Europe.
- RBC Capital cut its price target for Tesla from $440 to $320, citing a worsening outlook for autonomous driving adoption in key markets, according to MarketWatch.
- Tesla’s Full Self-Driving (FSD) system has yet to receive regulatory approval in China, raising further uncertainties.
- Meanwhile, BYD is reportedly working with Chinese AI startup DeepSeek to integrate advanced AI technology into its smart driving system.
According to Visible Alpha, the current analyst consensus target for Tesla is around $359.
Tesla Faces Production & Revenue Forecast Cuts
Investment firm Oppenheimer projects that Tesla will deliver 30,000 fewer vehicles than previously expected and has reduced its fiscal 2025 revenue projection by 2%, bringing it down to $97.9 billion.
Tesla shares have struggled in recent weeks, as market confidence in the company’s long-term growth wanes amid intensifying competition from Chinese EV makers and global economic uncertainty.
Tesla’s stock has been on a downward trajectory, losing nearly half its value since the beginning of the year. It is currently on pace to fall for a ninth consecutive week—its longest losing streak in recent history.
Despite these challenges, Tesla continues to push ahead with its expansion plans, new product launches, and cost-cutting strategies to remain competitive in the evolving EV market.
Read Also:TikTok denies plan to sell app to Elon Musk
Read Also: Tesla warns Trump’s trade war could hurt U.S. automakers
