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 (OTC:BYDDF) (OTC:BYDDY), a rival to Tesla, has reduced the price of its Seagull EV model in China by 5.4%, setting the new price at approximately $9,696. This move is part of BYD's strategy to compete in the fiercely competitive Chinese EV market, where it faces competition from both domestic and international companies like Geely Auto and Tesla. The price reduction follows a 37% YoY drop in BYD's sales in February, despite growth in 2023 and January 2024.

Portfolio Pulse from Anan Ashraf

March 06, 2024 | 7:06 am

Fund Manager Freddie Lait from Latitude Investment Management advises against investing in EV stocks like Tesla due to profitability concerns. He recommends focusing on established automakers such as Ferrari, General Motors, Volkswagen, and BMW, highlighting Ferrari's strong business performance and future plans for an electric vehicle.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 2:04 am

BYD Co, a leading Chinese EV manufacturer, has cut the price of its new Yuan Plus version by 12% to compete in China's intense EV market. This move is part of a broader strategy to attract customers amid a cooling market, where rivals like Tesla have also reduced prices. BYD's price cut reflects its aggressive approach to maintaining a competitive edge in the world's largest automobile market.

Portfolio Pulse from Anan Ashraf

March 04, 2024 | 9:04 am

BYD Co Ltd, backed by Warren Buffett's Berkshire Hathaway, reported a 37% year-over-year drop in sales volume for February 2024, selling 122,311 new energy vehicles. This marks a significant change as BYD had been experiencing sales growth throughout 2023 and even in January 2024. The company, which ceased production of oil-fueled vehicles in April 2022, sold 54,908 battery electric vehicles (BEVs) in February, nearly 39% lower than the previous year and 48% down from January 2024. In Q4 2023, BYD surpassed Tesla as the biggest BEV seller.

Portfolio Pulse from Anan Ashraf

March 02, 2024 | 8:28 am

Former Ford CEO Mark Fields advocates for a short-term ban on Chinese automakers entering the U.S. market, citing unfair advantages due to government incentives. He suggests this measure to protect U.S. automakers, particularly the Detroit Big Three, from the economic impact similar to past industries like aluminum and steel. Fields' views echo broader concerns about the U.S. auto industry's survival against Chinese competition. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) recently saw a decrease in value.

Portfolio Pulse from Shanthi Rexaline

February 29, 2024 | 9:26 am

BYD Co Ltd showcased its Yangwang U8 SUV, capable of floating and performing a tank turn, at the Geneva International Motor Show. This marks its debut in Europe, following the launch of the dancing U9 supercar in China. The U8 SUV, a luxury plug-in hybrid, boasts 1,200 horsepower and can accelerate from 0-60 mph in 3.6 seconds. It has delivered 3,653 units in China as of January. BYD, which surpassed Tesla in BEV sales in the last quarter of 2023, is exploring the European market but has no immediate plans to enter the U.S. market.

Portfolio Pulse from Anan Ashraf

February 28, 2024 | 4:21 am

BYD Co Limited refutes the EU's allegations that Chinese car companies' success is due to state aid, attributing it instead to their early investment in technology and efficient management. Despite the EU's investigation into subsidies and potential for increased tariffs, BYD is confident and prepared to stabilize prices. The company, backed by Warren Buffett's Berkshire Hathway, is expanding in Europe with plans to increase its EV factory capacity in Hungary.

Portfolio Pulse from Benzinga Neuro

February 27, 2024 | 11:33 am

BYD Co Ltd views Tesla Inc as a partner rather than competition in the EV market, emphasizing the minimal customer overlap and shared goal of advancing EV adoption. BYD's Executive VP Stella Li dismissed rumors of entering the U.S. market through a Mexican factory, citing political complications. Despite Tesla's concerns about Chinese automakers' competitive edge, BYD focuses on competing with combustion engine manufacturers. In Q4 2023, BYD surpassed Tesla in BEV sales, though it also produces hybrids.

Portfolio Pulse from Anan Ashraf

February 27, 2024 | 3:53 am

BYD Co. (OTC:BYDDF) (OTC:BYDDY) has launched its most expensive electric vehicle, the Yangwang U9 supercar, priced at $233,450, targeting the luxury EV market in China. This move challenges traditional supercar brands like Ferrari and Lamborghini. The U9 can accelerate to 100 km/h in 2.36 seconds, with a top speed of 309.19 km/h. BYD, the largest BEV seller globally, is expanding into the luxury segment with more models under the Yangwang brand planned for release.

Portfolio Pulse from Benzinga Neuro

February 26, 2024 | 7:12 am

Auto parts giant Forvia SE is restructuring its workforce, planning to cut up to 10,000 jobs to save around €500 million annually by 2028. This move is in response to the shift towards electric vehicles (EVs), influenced by EU policies, declining European car sales, and competition from Chinese EV manufacturers. Forvia reported a 10.9% year-over-year increase in 2023 sales, reaching €27.25 billion. The company aims to improve profitability in Europe and reduce reliance on the Chinese market, amidst the automotive industry's challenges in transitioning to EVs. Notably, BYD Co Ltd has overtaken Tesla Inc as the leading global EV seller.

Portfolio Pulse from Vandana Singh

February 20, 2024 | 5:00 pm

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