BYD seems quite undervalued. Tesla is the closest comparison at a PE of 70, whereas BYD has a PE of 27. Meanwhile BYD is growing its profits and revenue faster from a smaller base (one eighth of the market cap). Both have ‘other bets’ that may pay off in solar energy etc.

BYD is a Chinese stock and I do think that deserves a discount. However, it is in a ‘hard tech’ company and therefore completely in line with government objectives. And Tesla itself has at least some China risk.

Thoughts? I’m pretty tempted by BYD at this price. As an aside, I live in Hong Kong where you see loads of Teslas but I have started to spot BYDs here and there recently.