BYD’s Hong Kong-listed shares are already up more than 50% this year. The Chinese company’s week of blowout news should amount to a rather satisfying dunk on Tesla CEO Elon Musk, who once scoffed at the idea of BYD as a competitor and who is currently a rather unpopular member of the Trump administration.

Demonstrators in the US have targeted Tesla showrooms in recent weeks in protest against Musk's cutting government spending through his Department of Government Efficiency (Doge), which despite its name is an advisory board, not an official government department.