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

In 2023, the EV industry faced production and demand challenges, with Tesla, Inc. (TSLA) doubling its stock value after aggressive price cuts. Rivian Automotive, Inc. (RIVN) also ended the year positively, maintaining production forecasts and managing costs. Global EV adoption slowed due to affordability and infrastructure issues. Tesla's North American Charging Standard gained significant adoption from other automakers. Legacy automakers scaled back EV plans due to strikes and demand slowdown. Analyst Gary Black views Tesla as the only investable EV company, with BYD and Rivian as potential winners. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) fell 7.85% for the year.

Portfolio Pulse from Shanthi Rexaline

December 30, 2023 | 3:28 pm

Jabil Inc (NYSE:JBL) has revised its Q2 FY24 guidance following the divestiture of its Mobility business to BYD Electronic (International) Company Limited, a subsidiary of BYD Co Ltd (OTC:BYDDF), for $2.2 billion. The transaction closed earlier than the anticipated date of January 31, 2024, leading to a reduction in the midpoint of the prior guidance range for net revenue by about $400 million and core EPS by $0.30. The new Q2 revenue guidance is $6.6 billion to $7.2 billion, with adjusted EPS of $1.43 to $1.83, both below consensus estimates. FY24 revenue guidance was also slightly revised to $30.6 billion, with core EPS expected to be over $9.00. CFO Mike Dastoor expressed confidence in offsetting lower Q2 income and fully utilizing the $2.5 billion repurchase authorization in FY24. JBL shares dropped slightly by 0.381% to $127.50 in premarket trading.

Portfolio Pulse from Lekha Gupta

December 29, 2023 | 2:20 pm

Gene Munster of Deepwater Asset Management warns that Tesla, Inc. (TSLA) should be wary of competition from Chinese EV makers and Apple Inc. (AAPL). Despite Tesla's strong performance and investor optimism, Munster suggests that Chinese companies like Xiaomi Corporation (XIACY) and BYD Co. Ltd. (BYDDY, BYDDF) could pose a threat. He also believes traditional automakers are not a concern for Tesla. Munster predicts Tesla will maintain its U.S. market share through 2024, contrary to some expectations. Additionally, he speculates on the possibility of an Apple Car within the next five years.

Portfolio Pulse from Shanthi Rexaline

December 29, 2023 | 7:12 am

Xiaomi Corp. has unveiled its first electric vehicle, the SU7, aiming to compete with Tesla and Porsche in the EV market. The SU7, developed with batteries from CATL and BYD, represents a $10 billion opportunity for Xiaomi. The company is partnering with Beijing Automotive Group Co. and is working on obtaining a sales license in China, with sales expected to start next year. Xiaomi's CEO Lei Jun is committed to winning in the EV space, with significant investment in R&D.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 9:04 am

Canaccord Genuity's George Gianarikas suggests Tesla Inc. (NASDAQ:TSLA) could maintain its lead in the EV market based on profit share rather than unit sales, similar to Apple's strategy in the smartphone industry. Despite potential competition from BYD (OTC:BYDDF) (OTC:BYDDY) in terms of sales volume, Tesla's focus on high-margin products like Full Self-Driving software and vertical integration could ensure higher profits. Tesla is expected to deliver 1.82 million vehicles in 2023, a 37% increase from the previous year, and is planning a major Model Y overhaul in China for mid-2024.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 3:03 am

Chinese electric vehicle company BYD (OTC:BYDDF), backed by Warren Buffett, has received a conditional license for level 3 autonomous driving tests on high-speed roads. This is the second such license BYD has obtained, with the first one received in China in July. The company has recently achieved significant milestones, including producing 6 million new energy vehicles and launching the electric SUV Song L, which competes with Tesla's Model Y. BYD's advancements position it as a strong competitor to Tesla in the global electric vehicle market.

Portfolio Pulse from Benzinga Neuro

December 27, 2023 | 12:46 pm

BYD Company has received a conditional testing license for Level 3 autonomous driving on high-speed roads in China, marking progress in the EV maker's autonomous technology. This is the first such license granted in China since BYD's initial award in July. The development reflects the increasing competition among automakers in China's autonomous driving space, with BMW and Mercedes Benz also pursuing similar advancements. BYD's stock (OTC:BYDDY) closed higher by 1.27% at $53.38 following the news.

Portfolio Pulse from Shivani Kumaresan

December 27, 2023 | 10:57 am

BYD Co., supported by Warren Buffett's Berkshire Hathaway, is set to surpass Tesla as the world's top EV seller this quarter. BYD's Q3 sales were close to Tesla's, and with its October and November sales, it's likely to exceed Tesla's projected Q4 sales. This shift highlights China's growing influence in the EV market and introduces a new competitive dynamic between Tesla and BYD. BYD is expanding globally, including a new base in Hungary, while Tesla is planning a major Model Y overhaul from its Shanghai plant.

Portfolio Pulse from Benzinga Neuro

December 27, 2023 | 6:01 am

Tesla Inc (NASDAQ:TSLA) is planning a major overhaul of its Model Y, with production starting in mid-2024 at its Shanghai plant, to compete with rising rivals like BYD (OTC:BYDDF) (OTC:BYDDY) and Xpeng Inc. (NYSE:XPEV). The updated Model Y will feature significant changes and is crucial for Tesla's sales in China, where the Model Y accounts for 75% of its total sales. BYD, backed by Warren Buffett, may surpass Tesla in global electric car sales this quarter.

Portfolio Pulse from Benzinga Neuro

December 27, 2023 | 2:46 am

Tesla, Inc. (TSLA) shares are up in premarket trading following strong weekly insurance registrations for its made-in-China electric vehicles. The reported figure of 18,500 for the week of December 18-24 suggests robust demand, outpacing most domestic startups but still behind BYD Company Limited's (BYDDY, BYDDF) registrations. Li Auto, Inc. (LI) shared the data. Tesla's Q4 EV insurance registrations have already surpassed its previous quarterly record, indicating potential for meeting its annual delivery goal. Tesla's stock rose 0.59% in premarket trading after a drop in the previous session.

Portfolio Pulse from Shanthi Rexaline

December 26, 2023 | 11:03 am

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