BYD’s 66% Gain Catapults Stock to Near Trillion Yuan Market Cap

(Bloomberg) — BYD Co. Ltd., the Chinese electric-vehicle maker backed by Warren Buffett, is on the cusp of entering the trillion-yuan-market-cap club as its production resilience and the government’s consumption incentives helped spur a rally.

Shares of the Shenzhen-based company have surged 66% since a March low through Tuesday, which pushed its market valuation to around 950 billion yuan ($142 billion). Further gains will allow the firm to hit the milestone, a rare feat which only a handful of Chinese mainland-listed stocks including Contemporary Amperex Technology Co. Ltd. and Kweichow Moutai Co. Ltd. have achieved.