Streetbeat News

BYDDF

BYD Co

http://www.byd.com/

Industry

Automobile Manufacturing

Open

33.52

Mkt cap

106B

Volume

12K

High

33.95

P/E Ratio

21.09

52-wk high

42.00

Low

33.42

Div yield

0.01

52-wk low

21.80

Tesla Inc. (NASDAQ:TSLA) has reportedly halted its gigacasting manufacturing process, a move aimed at cutting costs amid declining sales and increasing competition, particularly from BYD Co. (OTC:BYDDY) (OTC:BYDDF) and traditional automakers like Toyota Motor Corp (NYSE:TM). This decision marks a strategic shift for Tesla, which had previously aimed to innovate car manufacturing by casting large sections of the vehicle's underbody in one piece. Despite this pause, Tesla plans to focus on producing more affordable cars using existing platforms and has not completely abandoned the small-vehicle platform intended for the so-called Model 2, now pivoting towards developing a self-driving robotaxi.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 5:42 am

BYD Co Ltd is recalling 16,666 Seagull EVs due to faulty reversing cameras caused by software issues in vehicles produced between April 7, 2023, and May 31, 2023. The company plans to address the problem with an over-the-air software upgrade, and for vehicles that cannot be fixed remotely, BYD will contact customers for a direct software upgrade. This recall comes as BYD maintains its position as the top EV maker in China, with a 13.44% increase in sales of new energy vehicles in the first quarter of 2024.

Portfolio Pulse from Anan Ashraf

April 30, 2024 | 12:42 pm

Cathie Wood's Ark Invest engaged in significant stock purchases ahead of AMD's earnings report, buying shares in AMD, TSMC, and Qualcomm through its ARKQ ETF. Additionally, Ark bought shares in BYD Co. Ltd., a Chinese EV company backed by Warren Buffett. The iShares Semiconductor ETF (SOXX) also saw an increase. Ark's ARKK ETF closed up 2.41%.

Portfolio Pulse from Shanthi Rexaline

April 30, 2024 | 8:54 am

China's industrial association has released a list of 76 intelligent connected vehicle models that comply with the country's auto data security standards, including models from Tesla, BYD, Li Auto, Lotus, Hozon New Energy Automobile, and NIO. The vehicles underwent tests for compliance with data anonymization, non-collection of in-car data, in-car data processing, and notification of personal information processing, starting in November 2023.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:19 pm

BYD Co. is charging significantly higher prices for its EVs in Europe compared to China, aiming for higher profits amidst fierce domestic competition. Unlike Tesla, which marks up its Model 3 by 37% in Germany, BYD's markups can reach nearly triple the Chinese prices. This strategy helps BYD avoid the 'cheap Chinese product' stigma and build a premium brand. However, Europe's slowing EV market and potential trade tensions could challenge BYD's strategy. Tesla's more modest markup contrasts with BYD's aggressive pricing, reflecting different market strategies.

Portfolio Pulse from Benzinga Neuro

April 29, 2024 | 1:43 am

The China Association of Automobile Manufacturers released a list of 76 smart vehicle models from companies including Tesla, BYD, Li Auto, and Nio, which comply with China's national data security standards.

Portfolio Pulse from Charles Gross

April 28, 2024 | 3:48 pm

Cathie Wood's Ark Invest made significant trades, notably purchasing shares of Palantir Technologies ahead of its Q1 earnings, and buying Meta Platforms and Roku shares following their earnings announcements. Ark also invested in BYD Co. Ltd., a Buffett-backed EV company. Palantir is expected to report increased earnings and revenue. Meta's stock dropped due to soft revenue guidance, while Roku's shares fell despite a quarterly beat. Ark's buying spree included stocks that experienced recent sell-offs.

Portfolio Pulse from Shanthi Rexaline

April 27, 2024 | 7:46 pm

Tesla, Inc. (TSLA) led a recovery in EV stocks with its earnings call updates, including an accelerated production start for a new model and the Tesla Semi's manufacturing plans. Fisker, Inc. (FSRN) is in talks for a potential sale due to liquidity concerns. BYD Co. Ltd. (BYDDY, BYDDF) announced its first energy pickup truck, the BYD Shark. VinFast Auto Ltd. (VFS) may receive additional investment from its founder. Rivian offered discounts on new R1 models. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) saw a weekly gain.

Portfolio Pulse from Shanthi Rexaline

April 27, 2024 | 12:48 pm

The Beijing International Automotive Exhibition highlighted the prominence of Chinese EV manufacturers, particularly BYD (OTC:BYDDF) (OTC:BYDDY) and Xiaomi, showcasing the industry's shift towards electric mobility. BYD, backed by Warren Buffett, and Xiaomi, with over 75,000 orders for its SU7 sedan, were central attractions. The event underscored the rapid transformation in China's automotive sector towards NEVs, with foreign automakers also adjusting their strategies to focus more on electric vehicles.

Portfolio Pulse from Anan Ashraf

April 25, 2024 | 12:42 pm

BYD, backed by Warren Buffett's Berkshire Hathaway, is entering the luxury EV market with the Denza Z9GT sedan, challenging luxury automakers like Mercedes-Benz. This move comes as BYD aims to compete with global leaders and increase profitability amidst a price war in the EV sector. The company has also unveiled a high-end electric supercar and its first electric pickup truck, marking significant steps in its strategy to redefine luxury in the EV space and move beyond its low-cost image.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 6:44 am

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