Streetbeat News

BYDDF

BYD Co

http://www.byd.com/

Industry

Automobile Manufacturing

Open

49.00

Mkt cap

155B

Volume

59K

High

50.10

P/E Ratio

31.12

52-wk high

52.00

Low

49.00

Div yield

0.01

52-wk low

24.35

Volkswagen has exited discussions with Renault on a joint affordable EV project. Renault will continue developing the electric Twingo independently, while Volkswagen plans its own low-cost EV strategy. This development highlights the competitive pressure from Chinese automakers in the European market.

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 3:52 pm

Nio Inc (NYSE:NIO) stock was trading higher Thursday amid reports of launching its first vehicle under the Onvo brand, priced lower than Tesla's Model Y. However, the stock reversed its gains. Nio plans to deliver the L60 SUV in September and aims for international sales. The L60 will use affordable batteries from BYD Co. Nio's stock has lost 33% in the last 12 months. Investors can gain exposure via KraneShares MSCI China Clean Technology Index ETF (NYSE:KGRN) and KraneShares Electric Vehicles And Future Mobility Index ETF (NYSE:KARS).

Portfolio Pulse from Anusuya Lahiri

May 16, 2024 | 3:39 pm

Honda Motor Co. Ltd (NYSE:HMC) plans to invest $65 billion in electrification and software development by 2030, doubling its previous commitment. The investment aims to secure battery supply, reduce costs, and improve performance. Honda will introduce new battery-powered vehicles in 2026 and plans to launch seven EV models globally by 2030. The company is also investing $11 billion in new EV and battery production facilities in Ontario, Canada.

Portfolio Pulse from Shivani Kumaresan

May 16, 2024 | 3:01 pm

XPeng Inc. (NYSE:XPEV) shares are trading higher in the premarket session due to reports that the company plans to use BYD Co., Ltd. (OTC:BYDDY) batteries for its new Mona sub-brand. The Mona brand's first model, an A-class compact electric sedan, is expected to be revealed in June and delivered in the third quarter. XPeng's Zhaoqing plant has been upgraded to support the new model's production.

Portfolio Pulse from Nabaparna Bhattacharya

May 15, 2024 | 11:24 am

BYD has launched its new mid-size hybrid-electric pickup truck, the Shark, in Mexico, which is significantly cheaper than Tesla's Cybertruck. The Shark is not planned for the U.S. market, reducing direct competition with the Cybertruck. BYD's move comes amid U.S. tariff hikes on Chinese imports.

Portfolio Pulse from Anan Ashraf

May 15, 2024 | 10:17 am

BYD Co Ltd, backed by Warren Buffett, aims to become the leading battery-electric vehicle (BEV) seller in Europe, surpassing Volkswagen AG, Tesla Inc., and Stellantis NV. The company plans significant investments in factories, dealerships, and marketing in Europe, including a budget model priced under €20,000. Despite a 42% drop in electric vehicle deliveries in Q1 2024, BYD's market share in Western Europe was 1.7%. The company is constructing a new factory in Hungary and scouting locations for a second plant.

Portfolio Pulse from Benzinga Neuro

May 10, 2024 | 2:41 pm

Tesla Inc (NASDAQ:TSLA) is undergoing further job cuts in China amid challenges to regain market share in the face of stiff competition and a global slump in EV demand. The layoffs, part of a global initiative to reduce headcount by over 10%, affect various departments at Tesla's Shanghai plant. This comes as Tesla's market share in China drops to 7.5% in Q1 2024 from 10.5% the previous year, despite securing preliminary approval for its driver-assistance system in China. Tesla's stock is trading lower by 0.4% at $173.93.

Portfolio Pulse from Shivani Kumaresan

May 09, 2024 | 2:03 pm

Gary Black, a Tesla investor and Future Fund Managing Partner, believes Warren Buffett's Berkshire Hathaway is unlikely to invest in Tesla due to its high valuation and Buffett's preference for value stocks. Black points out that Tesla's estimated earnings per share for 2024 are trading at 70 times, making it an expensive choice for Berkshire. Instead, Buffett's investments in Apple and BYD are highlighted as more aligned with his investment philosophy, with both companies having more reasonable valuations at the time of Berkshire's investment.

Portfolio Pulse from Shanthi Rexaline

May 08, 2024 | 11:40 am

Nio has partnered with BYD, backed by Warren Buffett, to launch a budget-friendly EV brand named 'Onvo', aiming to compete with Tesla's Model Y. This partnership allows Nio to source batteries from BYD, alongside its current supplier CATL, and another provider CALB for different versions of the Onvo EV. This move is part of a broader strategy to reduce costs and compete more effectively in the fiercely competitive Chinese EV market. BYD, having surpassed Tesla in global EV production, is focusing on making EVs more affordable than gasoline vehicles.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 11:44 am

Warren Buffett-backed Chinese EV maker BYD Co is set to globally debut its first pickup truck, the BYD Shark, in Mexico on May 14. This marks BYD's first new model launch overseas in recent years, highlighting its focus on foreign markets due to restrictions on pickup trucks in China. The BYD Shark, larger than the Toyota Hilux, is built on BYD's DMO platform and is a potential competitor to Tesla's Cybertruck. The launch is part of BYD's strategy to diversify its product offerings, including entering the pickup truck market and challenging luxury automakers with its premium sedan. A U.S. manufacturing lobby group has warned that the entry of Chinese EV makers into the American market could be a significant threat to the U.S. auto sector.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 8:28 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.