Streetbeat News

BYDDF

BYD Co

http://www.byd.com/

Industry

Automobile Manufacturing

Open

35.50

Mkt cap

109B

Volume

111

High

35.50

P/E Ratio

21.59

52-wk high

42.00

Low

35.40

Div yield

0.01

52-wk low

21.80

BYD Co. Ltd. reported a year-over-year increase in Q1 BEV sales but saw a decline from the previous quarter. Despite this, Tesla, Inc. is expected to report a year-over-year drop in deliveries for the first time since COVID-19, potentially allowing BYD to maintain its lead as the world's biggest battery EV manufacturer. Tesla's Q1 delivery estimates are lower than consensus, amid slowing EV adoption and intense competition.

Portfolio Pulse from Shanthi Rexaline

April 01, 2024 | 5:10 pm

Tesla, Inc. (NASDAQ:TSLA) increased the prices of all Model Y variants in China by 5,000 yuan ($692) effective April 1. This move comes after aggressive price cuts in China since late 2022 did not boost volume growth and led to a price war, notably with BYD Co Ltd. (OTC:BYDDY) (OTC:BYDDF), which overtook Tesla as the world's biggest battery EV manufacturer in Q4 2023. Analysts suggest Tesla should explore strategies beyond price cuts. Tesla's stock closed down 2.25% at $175.79.

Portfolio Pulse from Shanthi Rexaline

April 01, 2024 | 3:37 am

Xiaomi has entered the EV market with its SU7 sedan, receiving 120,000 orders in 36 hours, directly challenging Tesla's Model 3. The SU7, initially available in China, boasts better specifications than the Model 3 in most aspects and is priced under $30,000. Despite the competition, Xiaomi is prepared to sustain losses to compete in the EV market.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 1:47 am

The electric vehicle (EV) sector experienced mixed sentiments despite the broader market's record high. Tesla faced reduced delivery targets and price target cuts due to demand issues, while promoting a free trial of its full-self driving software. Fisker announced significant price reductions for its EVs amid bankruptcy rumors. Nikola teased the return of its battery EV trucks and announced the opening of a hydrogen refueling station. Canoo acquired assets from bankrupt Arrival Automotive. BYD aims for a 20% sales growth in 2024. The KraneShares Electric Vehicles ETF saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

March 30, 2024 | 12:21 pm

BYD Company aims to significantly increase its international sales of electric vehicles (EVs) to 500,000 units in 2024, doubling from the previous year, with a goal to reach 3.6 million units in total sales. This ambitious target comes amid a period of slowing profit growth and increased competition in the EV market. Despite a potential drop in vehicle margins due to price competition, BYD is focused on profitability through enhanced sales strategies and the introduction of new, more efficient models.

Portfolio Pulse from Shivani Kumaresan

March 27, 2024 | 4:36 pm

China has filed a WTO complaint against the U.S. over its EV tax credit program, claiming it discriminates against foreign manufacturers by requiring EVs to be assembled in North America with domestically sourced batteries. The Inflation Reduction Act's provisions are said to distort competition and disrupt the global NEV supply chain. Chinese EV maker BYD, now leading in global sales, and Nio Inc. express concerns over market access and treatment compared to U.S. companies.

Portfolio Pulse from Benzinga Neuro

March 26, 2024 | 11:36 am

This week, Tesla faced challenges in China, Ford planned a reentry into India's EV market, and Canoo aimed to improve profitability. Tesla's production cut in China and SEC probe concerns, along with Ford's strategy to leverage India's new EV policy, and Canoo's designation as a Foreign Trade Zone were key events. Fisker sought financing to avoid bankruptcy, and BYD expanded into Greece. The KraneShares Electric Vehicles ETF saw a decline, reflecting broader EV stock underperformance despite Tesla's slight gain.

Portfolio Pulse from Shanthi Rexaline

March 23, 2024 | 1:12 pm

BYD Co Ltd, backed by Warren Buffett, has expanded into the Greek market, showcasing its electric vehicles including the Atto 3 SUV and Seal sedan. This marks a significant step in BYD's European expansion, aiming to become a top-five player in European registrations. Despite its rapid expansion, BYD's market share in Europe remains minimal. However, BYD outsold Tesla in global BEV sales in the last quarter of 2023.

Portfolio Pulse from Anan Ashraf

March 22, 2024 | 7:07 am

Apple Inc's CEO Tim Cook met with BYD Co's chairman in Shanghai to discuss their ongoing collaboration, including on products like the iPhone. The meeting highlighted the critical role of Chinese suppliers in Apple's supply chain, with companies like BYD Electronics showcasing their contributions. This comes as Apple faces challenges in China, with a 24% drop in iPhone sales pushing it to fourth place among smartphone vendors in the country.

Portfolio Pulse from Anan Ashraf

March 21, 2024 | 8:22 am

China's EV market is experiencing significant growth, with BYD, backed by Warren Buffett, leading as the world's largest seller of electric vehicles. BYD predicts NEV penetration will exceed 50% in the next three months. Nio focuses on long-life batteries, XPeng targets the budget segment with a new brand, Li Auto considers adjusting its sales target, and Huawei expects its auto unit to be profitable by 2024.

Portfolio Pulse from Anan Ashraf

March 18, 2024 | 10:59 am

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