Group 1 - BYD Auto Industry Co., Ltd. has filed a recall plan with the State Administration for Market Regulation due to safety concerns related to certain vehicle models [1][2] - Recall number S2025M0165I involves 44,535 units of the 2015 Tang series produced between March 28, 2015, and July 28, 2017, due to potential issues with the drive motor controller that may lead to circuit board burning and loss of electric drive mode [1] - Recall number S2025M0166I includes 71,248 units of the Yuan Pro electric vehicles produced between February 6, 2021, and August 5, 2022, which may have battery sealing issues that could lead to water ingress and reduced insulation performance [1][2] Group 2 - The recalls are initiated following a defect investigation by the State Administration for Market Regulation [2] - BYD will authorize dealers to perform free software updates and apply specialized sealant to restore waterproof functionality in the affected vehicles [2]

Core Points - BYD Auto is recalling over 110,000 vehicles, including 44,535 units of the 2015 Tang series and 71,248 units of the Yuan Pro electric vehicles due to safety concerns [1][2][3][4] Group 1: Recall Details - The recall of the 2015 Tang series vehicles is due to a design issue with components that may cause the drive motor controller to malfunction, potentially leading to circuit board damage and loss of electric drive mode [3] - The Yuan Pro electric vehicles are being recalled because of manufacturing issues that may result in improper sealing of the battery, risking water ingress and reduced insulation performance [4] - Both recalls are initiated following investigations by the State Administration for Market Regulation (SAMR) [3][4] Group 2: Industry Context - As of September 2025, a total of 1.2 billion vehicles have been recalled in China, with 637.886 million of those recalls influenced by SAMR investigations [5] - There has been a notable increase in recalls related to advanced driver assistance systems, with 25.056 million vehicles recalled in 2024, accounting for 23% of total recalls [6] - The SAMR is working on enhancing the recall regulatory framework, including establishing reporting systems for fire incidents in electric vehicles and promoting compliance within the industry [6]

Core Points - BYD Auto Industry Co., Ltd. is recalling a total of 115,783 vehicles, including 44,535 units of the 2015 Tang series and 71,248 units of the Yuan Pro electric vehicles due to safety concerns [1][2] Group 1: Recall Details - The recall of the 2015 Tang series vehicles is due to a design issue with components that may cause the drive motor controller to malfunction, potentially leading to a failure in electric drive mode [2][3] - The Yuan Pro electric vehicles are being recalled because of manufacturing issues that may result in improper installation of the battery sealing gasket, which could lead to water ingress and reduced insulation performance [2][3] Group 2: Regulatory Context - The recall is initiated following a defect investigation by the State Administration for Market Regulation (SAMR) [2][3] - In 2023, BYD has had relatively few recalls, with a previous recall of 6,843 units of the Fangcheng Leopard 5 plug-in hybrid vehicles announced earlier in the year [3] Group 3: Industry Trends - As of September 2025, a total of 32,30 recalls have been implemented in China, affecting 120 million vehicles, with 53.18% of these recalls influenced by investigations from the SAMR [3][4] - The trend of recalls related to advanced driver assistance systems is increasing, with 25.06 million vehicles recalled in 2024 due to such issues, accounting for 23% of total recalls [4]

Core Insights - BYD has become the choice of multiple national leaders for their official vehicles, showcasing the competitive strength of its products in the global market [1][3][4] Group 1: Market Performance - BYD's factory in Brazil celebrated the production of its 14 millionth electric vehicle, with the latest model, Song Pro, being delivered to Brazilian President Lula [3] - Since entering the Brazilian market, BYD has sold 77,000 vehicles from January to September 2025, becoming the top seller of electric vehicles in Brazil [4] Group 2: International Recognition - The President of Uzbekistan, Mirziyoyev, received the Yangwang U8 from BYD during a visit to the company's headquarters, highlighting the vehicle's advanced technology [4] - Jordan's Queen Rania has chosen the Yangwang U8 as her official vehicle, reflecting her commitment to social progress and recognition of Chinese technological innovation [4] Group 3: Technological Leadership - BYD's comprehensive control over the entire supply chain, including battery, motor, and electronic control technologies, has established it as a leader in the electric vehicle sector [7] - The safety features of BYD vehicles, described as "mobile fortresses," are a significant factor in their selection by national leaders [7][8] Group 4: Brand Philosophy - BYD's focus on core technology rather than flashy marketing aligns with the pragmatic image of modern national leaders, enhancing its appeal [8] - The company's commitment to not only exporting products but also technology and value has garnered widespread recognition from local governments and communities [8][9]

本次召回活动是在国家市场监督管理总局启动缺陷调查情况下开展的。比亚迪汽车工业有限公司将委托 授权经销商，免费为召回范围内的车辆使用专用密封胶补强动力电池壳体，恢复防水功能，以消除安全 隐患。 本次召回范围内的部分车辆，由于生产制造问题，可能导致动力电池密封垫安装不到位，引起密封性下 降，若长时间高速涉水，可能造成动力电池进水，绝缘性能下降。极端情况下，动力电池输出功率降 低，存在安全隐患。 北京商报讯（记者 蔺雨葳）10月17日，国家市场监督管理总局召回中心发布的信息显示，日前，比亚 迪汽车工业有限公司根据《缺陷汽车产品召回管理条例》和《缺陷汽车产品召回管理条例实施办法》的 要求，向国家市场监督管理总局备案了召回计划。 召回编号S2025M0166I：自即日起，召回2021年2月6日至2022年8月5日期间生产的部分元Pro纯电动汽 车，共计71248辆。 ...

Core Viewpoint - BYD Auto Industry Co., Ltd. has initiated a recall of 44,535 units of the 2015 Tang series vehicles due to potential safety hazards related to the design of component selection in the drive motor controller [1] Group 1: Recall Details - The recall affects vehicles produced between March 28, 2015, and July 28, 2017 [1] - The recall number is S2025M0165I, and it is conducted in accordance with the Regulations on the Recall of Defective Auto Products [1] Group 2: Safety Concerns - Some vehicles may experience abnormal active discharge functions, which could lead to circuit board burning and failure of the electric drive mode, posing safety risks [1] - The recall was initiated following a defect investigation launched by the State Administration for Market Regulation [1] Group 3: Remedial Actions - BYD will authorize dealers to update the software of the recalled vehicles for free, changing the discharge method to motor discharge to eliminate safety hazards [1]

Core Insights - Chinese car maker BYD is initiating its largest recall to date, affecting over 115,000 vehicles from the Tang series and Yuan Pro models produced between 2015 and 2022 due to design defects and battery-related safety risks [1] Group 1 - The recall involves more than 115,000 vehicles [1] - The affected models include the Tang series and Yuan Pro [1] - The production years of the recalled vehicles range from 2015 to 2022 [1]

Group 1 - BYD Auto Industrial Co., Ltd. has filed a recall plan with the State Administration for Market Regulation in accordance with the regulations on defective automotive products [1] - Recall number S2025M0165 involves 44,535 units of the 2015 Tang series vehicles produced between March 28, 2015, and July 28, 2017, due to potential issues with the drive motor controller that may lead to safety hazards [1] - Recall number S2025M0166 involves 71,248 units of the元Pro electric vehicles produced between February 6, 2021, and August 5, 2022, due to manufacturing issues that may compromise battery sealing and lead to safety risks [1] Group 2 - The recalls are initiated following a defect investigation by the State Administration for Market Regulation [1] - BYD will provide free software updates and battery sealing enhancements through authorized dealers to mitigate the identified safety risks [1] - Customers will be notified of the recalls via registered mail, phone calls, and text messages [1]

Core Viewpoint - Morgan Stanley's research report indicates that BYD's overseas market development prospects are promising, with overseas sales expected to become a new growth driver [1] Group 1: Sales Performance - BYD's overseas sales reached approximately 700,000 units in the first nine months of this year, with a belief that the company can achieve its annual target of 900,000 to 1,000,000 units [1] - By 2026, Morgan Stanley forecasts that BYD's overseas sales will reach between 1.6 million to 1.8 million units, representing an annual growth of 68% to 89% [1] Group 2: Market Share - Currently, BYD's passenger car market share in Brazil, Thailand, and Australia has exceeded 5%, with electric vehicle sales share surpassing 20% in several regions [1] Group 3: Investment Rating - Morgan Stanley maintains an "Overweight" rating on BYD, with a target price set at HKD 130 [1]

Core Viewpoint - BYD Electronics is set to become a power component supplier for NVIDIA's new 800VDC AI server architecture, positioning itself as a comprehensive AI server solution provider within NVIDIA's AI server systems [1] Group 1: Partnership and Growth Opportunities - BYD Electronics is collaborating with Apple on an upcoming desktop robot and home hub, which is expected to drive new business growth for BYD Electronics [1] Group 2: Market Rating and Price Target - The report from Credit Lyonnais reaffirms a "Outperform" rating for BYD Electronics, with a target price set at HKD 52.9 [1]