Key facts: BYD's stock drops amid battery sector downturn; invests in AgiBot
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- BYD's stock fell due to a downturn in the Chinese battery sector, impacted by sharp declines in competitors' shares and stricter eligibility for China's electric vehicle tax exemptions.1
- In August 2023, BYD invested in AgiBot, a Chinese robot maker, which partnered with Fulin Precision to deploy nearly 100 Yuanzheng robots in its factories.2