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

Chinese EV maker BYD Co Ltd, backed by Warren Buffett, in partnership with tech company DJI, showcased the world's first vehicle-mounted drone at its Shenzhen headquarters. The drone, mounted on a Yangwang U8, features automatic battery swapping, charging management, and can capture high-definition aerial footage. BYD also announced a 5 billion yuan investment in all-terrain professional test drive sites across China. BYD surpassed Tesla as the world's largest BEV seller in Q4 2023.

Portfolio Pulse from Anan Ashraf

January 19, 2024 | 12:56 pm

Wells Fargo analyst Colin Langan predicts Tesla Inc. (NASDAQ:TSLA) will face a challenging year with only a 13% growth in deliveries, below its 50% target. Tesla's price reductions in China, a production halt in Germany, and macroeconomic issues could impact its performance. Langan expects a lower 15.4% gross margin for the latest quarter and has reduced Tesla's stock price target to $223. Meanwhile, BYD Co Ltd (OTC:BYDDF), supported by Warren Buffett, has overtaken Tesla in global EV sales.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 9:48 am

BYD Company is shifting from pouch-type to prismatic batteries for its hybrids to address safety concerns. The transition will phase out pouch cells by early 2025, with factories in Shaanxi, Zhejiang, and Qinghai provinces affected. This move aligns with industry trends, as safety issues with pouch batteries have been highlighted by Volkswagen and Tesla. BYD's new 'Short Blade' prismatic batteries are a technological advancement, with hybrids making up nearly half of BYD's 2023 car sales. The financial impact of this shift on BYD is currently unknown. BYDDY shares closed down 3.23% at $52.14.

Portfolio Pulse from Shivani Kumaresan

January 17, 2024 | 2:10 pm

BYD Co Ltd, backed by Warren Buffett's Berkshire Hathaway, plans to invest over $14 billion in vehicle intelligence to enhance its EVs. The investment will fund the Xuanji Architecture, which includes a central brain, AI, and smart driving systems. BYD has surpassed Tesla in global EV sales and aims to increase the proportion of its vehicles with smart driving systems, currently at 57%. The company's move could challenge Tesla, which is also focusing on AI and autonomous driving technologies.

Portfolio Pulse from Ramakrishnan M

January 17, 2024 | 7:02 am

Banle Energy International Limited, a subsidiary of CBL International Limited (NASDAQ:BANL), has provided bunkering services for BYD's first car carrier, BYD Explorer 1, in China. This support is significant as BYD, now the world's largest EV manufacturer, surpassing Tesla, embarks on its maiden voyage to export automobiles to Europe.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 11:38 am

Chinese EV manufacturer BYD Co Ltd, supported by Warren Buffett's Berkshire Hathaway, is in discussions with Brazilian lithium producer Sigma Lithium Corp regarding a potential acquisition. The talks could result in various outcomes, including a supply contract, joint venture, or full takeover. Sigma Lithium, valued at $2.9 billion, began exporting lithium from Brazil last year and is considering a strategic review that may lead to a sale or public listing of its Brazilian subsidiary. BYD's interest in Sigma aligns with its strategy to control significant parts of its supply chain. This move reflects China's ambition to dominate the clean tech industry's global resources. BYD has surpassed Tesla in battery-only EV sales and is expanding its international presence, including a new battery production facility in China and the launch of a chartered cargo ship for global EV exports.

Portfolio Pulse from Benzinga Neuro

January 15, 2024 | 8:51 am

Tesla, Inc. (TSLA) has outperformed legacy automakers in U.S. sales growth over the past eight years, despite a general industry slowdown. Elon Musk praised his team in response to a Tesla influencer's post showing Tesla's U.S. sales increase by 632,088 units from 2015 to 2018. Legacy automakers like GM, Ford, and Stellantis reported sales declines, while Hyundai, Kia, Volkswagen, Geely, Subaru, and Mazda saw growth. Tesla's Q4 deliveries hit a record 484,507 units, with annual deliveries of 1.81 million. Tesla's production efficiency, diversified bases, and product appeal contribute to its success, while legacy automakers scale back EV ambitions. BYD has recently surpassed Tesla in battery EV manufacturing. Tesla's stock closed down 2.87% at $227.22.

Portfolio Pulse from Shanthi Rexaline

January 12, 2024 | 6:42 am

Tesla Inc (NASDAQ:TSLA) has reduced the prices of its Model 3 and Model Y vehicles in China. The Model 3 rear-wheel drive now costs 6% less, and select Model Y versions are up to 2.8% cheaper. The price cuts are significant as China is a key market for Tesla, and such adjustments could influence demand and market dynamics.

Portfolio Pulse from Anan Ashraf

January 12, 2024 | 2:38 am

Lucid Group, Inc. (NASDAQ:LCID) shares dropped after announcing Q4 deliveries, producing 2,391 vehicles and delivering 1,734. Full-year 2023 saw 8,428 vehicles produced and 6,001 delivered. Q4 financial results are expected on February 21, 2024. Tesla, Inc. (NASDAQ:TSLA) achieved its 1.8-million-unit delivery goal for 2023, while Rivian Automotive, Inc. (NASDAQ:RIVN) delivered 13,972 EVs in Q4. BYD Co., Ltd. (OTC:BYDDY) (OTC:BYDDF) surpassed Tesla as the largest EV manufacturer by volume. Lucid also integrated SiriusXM in Canadian vehicles. LCID shares fell 6.4% to $3.19.

Portfolio Pulse from Nabaparna Bhattacharya

January 11, 2024 | 3:22 pm

Goldman Sachs analyst Tina Hou initiated coverage on Nio Inc (NYSE:NIO) with a 12-month price target of $8.40, citing potential cost tailwinds and a light new model pipeline. Despite Nio's early mover advantage and premium brand, it faces declining market share and growth challenges against competitors like Tesla (TSLA), Li Auto (LI), XPeng (XPEV), and BYD (BYDDF, BYDDY). Nio's recent funding has eased immediate concerns, but positive FCF is not expected until post-2026. Risks include brand performance, battery price volatility, industry demand, competitive landscape, and liquidity issues. Nio's stock was slightly down at $8.05.

Portfolio Pulse from Surbhi Jain

January 08, 2024 | 6:54 pm

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