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

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

Chinese EVs face a significant barrier entering the U.S. market due to a 27.5% import tariff, impacting their competitiveness against U.S. automakers like Ford, General Motors, and Tesla. Despite their popularity globally, these tariffs, alongside concerns over national security and environmental advocacy, limit their market penetration in the U.S. Meanwhile, U.S. companies are developing more affordable EV models, with Tesla planning a lower-priced EV launch next year. The Biden administration is balancing affordable EV promotion with American job protection, maintaining or potentially increasing tariffs.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 12:58 pm

Chinese EV makers, including SAIC, Chery, Great Wall Motor, and BYD Co., have seen a 40% increase in overseas sales in Q1 2024, reaching 470,000 units. Europe and Asia are the main markets for these exports. BYD Co. leads in NEV overseas sales, followed by SAIC, Geely, Xpeng, and Nio. BYD is adopting a premium pricing strategy in Europe, and Chinese EV makers are exploiting a loophole for exporting 'used' cars to bypass trade barriers.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 6:07 am

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

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