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

During the Chinese New Year holiday, BYD Co Ltd and Tesla Inc owners in China drove over 4.46 billion kilometers collectively. BYD owners accounted for 3.76 billion kilometers, with over 66% using battery power. Tesla owners contributed over 700 million kilometers, reducing CO2 emissions by approximately 160,000 tons. This period highlights the intense competition between BYD and Tesla in China, their significant market. In the last quarter of 2023, BYD surpassed Tesla in BEV sales, selling 526,000 units compared to Tesla's 485,000.

Portfolio Pulse from Anan Ashraf

February 20, 2024 | 11:42 am

Tesla Inc. (NASDAQ:TSLA) saw a 67% year-on-year increase in new vehicle registrations in the EU in January, with 14,466 new vehicles. However, this growth was slightly outpaced by Chinese state-owned SAIC Motors, which reported a 69.5% increase with 9,746 new registrations. Despite Tesla's growth, it lost the title of the world's top-selling BEV maker to BYD Co Ltd (OTC:BYDDY) (OTC:BYDDF) last year. SAIC Motors' performance indicates that BYD is not the only Chinese competitor challenging Tesla's dominance in the electric vehicle market.

Portfolio Pulse from Anan Ashraf

February 20, 2024 | 10:16 am

BYD Co Ltd, backed by Warren Buffett, announced a stock buyback and plans to expand luxury car production amid a stock price slump and market challenges. Despite a 74.5% net profit increase in 2023 and surpassing Tesla in EV sales, BYD's shares have fallen 11.4% this year due to concerns over a potential price war and China's economic performance. The company aims to revive its stock price and diversify its product line with these new strategies.

Portfolio Pulse from Benzinga Neuro

February 19, 2024 | 7:23 am

Electric vehicle stocks had mixed performances in the week ending Feb. 16, with Tesla seeing a third week of gains and Rivian pulling back after a previous rally. Key events included Tesla's Model 3 LR price hike, Stellantis adopting Tesla's charging standard, a temporary relaxation of a strike against Tesla, Rivian teasing its R2 platform, Lucid's price cuts and CEO bonus controversy, and GM and Ford's openness to partnerships against Chinese rivals. Fisker announced dealer partnerships, and the KraneShares Electric Vehicles ETF saw a weekly gain.

Portfolio Pulse from Shanthi Rexaline

February 17, 2024 | 2:18 pm

South Korea has introduced a new EV policy favoring domestic automakers Hyundai and Kia over foreign competitors like Tesla and BYD. The policy aims to give Hyundai and Kia a competitive edge by adjusting subsidies based on vehicle range, price, and battery type, disadvantaging EVs with LFP batteries, predominantly used by Tesla and BYD. This move comes as Tesla's Model Y gains global popularity and BYD leads in BEV sales, with the policy potentially increasing Hyundai's market position.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 6:53 am

BYD Co. is planning to establish a new production facility in Mexico to serve as an export hub for the U.S. market, intensifying its competition with Tesla Inc., which is also expanding in Mexico with a new Gigafactory. This move comes as BYD overtakes Tesla as the biggest EV seller and expects a significant increase in net profit for FY 2023.

Portfolio Pulse from Benzinga Neuro

February 14, 2024 | 7:12 am

BYD Co is exploring the possibility of establishing a manufacturing plant in Mexico, as stated by the head of the company's local unit. This initiative is part of BYD's broader strategy in Latin America, which includes a plan to invest 3 billion Reals in constructing a plant in Brazil. The company has initiated a feasibility study for the Mexican plant to assess the potential and logistics of the expansion.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 5:39 pm

Tesla Inc (NASDAQ:TSLA) reported an unexpected $1.79 billion in revenue from regulatory-credit sales in 2023, according to a recent SEC filing. This revenue, stemming from other automakers' failure to meet emission regulations, was not anticipated to grow, as per Tesla's expectations. Despite facing increasing competition, particularly from China's BYD Co. Ltd. (OTC:BYDDF), which has overtaken Tesla as the world's leading EV seller, Tesla continues to benefit from this revenue stream. The company's Q4 revenue was $25.17 billion, a 3% increase year-over-year, but missed the Street consensus estimate of $25.62 billion.

Portfolio Pulse from Benzinga Neuro

February 13, 2024 | 1:41 am

Chinese EV traders are exploiting a loophole that allows the export of new cars as secondhand, bypassing trade barriers. This tactic has enabled the export of popular models from BYD Co and Li Auto to markets like Russia, Kazakhstan, and Saudi Arabia, despite a 25% tariff on Chinese auto imports by the US. The demand for Chinese EVs is rising globally, leading to strategic discussions among China's top automakers.

Portfolio Pulse from Benzinga Neuro

February 12, 2024 | 5:57 am

Warren Buffett's Berkshire Hathaway (BRK) is celebrated as a turnaround story, evolving from three failed businesses to a conglomerate nearing a $1 trillion valuation. The company's adaptability and strategic acquisitions, including Pilot Travel Centers, have been pivotal. Berkshire also benefits from investments in BYD Co Ltd (BYDDF/BYDDY) and Ferrari (RACE), with BYD's sales volume increasing by 33.1% year-over-year in January 2024.

Portfolio Pulse from Ananya Gairola

February 03, 2024 | 9:13 am

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