BYD To Supply 120 Electric Buses To South Africa's Golden Arrow
Portfolio Pulse from Shivani Kumaresan
BYD Company (OTC:BYDDY) has secured its first order for electric buses in South Africa, partnering with Golden Arrow to supply 120 electric buses. This move aims to electrify South Africa's public transportation network. BYD plans to start delivering the buses in December 2023 and complete the order by the end of 2025. The company has seen a significant increase in NEV sales, although its shares are currently trading lower by 2.60%.
July 25, 2024 | 5:45 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
BYD Company has secured its first order for electric buses in South Africa, partnering with Golden Arrow to supply 120 buses. This move is part of BYD's strategy to electrify public transportation globally. Despite the positive news, BYDDY shares are currently trading lower by 2.60%.
The partnership with Golden Arrow to supply 120 electric buses is a significant milestone for BYD, marking its entry into the South African market. This could lead to increased revenue and market expansion. However, the current share price decline suggests that the market may have already priced in this news or is reacting to other factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100