Tesla (TSLA) stock has had an incredible 2023. China’s BYD (BYDDF) might be the better electric-vehicle bet in 2024, Al Root writes in this week’s edition of Barron’s. BYD sells a lot of electric cars-more than Tesla, when you include its plug-in hybrids. It also makes money-about as much as Tesla. Its stock, though, hasn’t performed nearly as well as Elon Musk’s EV maker, the author notes. In fact, it has barely budged even as BYD’s earnings have surged, showing that concerns about the future of EVs have overwhelmed fundamentals.
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