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

NIO Inc (NYSE:NIO) stock rose over 8% in premarket trading after announcing a $2.2 billion strategic investment from CYVN Holdings. The investment will support NIO's expansion and technology collaborations internationally, particularly in Europe. CYVN's investment increases its ownership to approximately 20.1% of NIO's equity. The European Union is scrutinizing Chinese EV imports for potential competition rule violations. NIO is also a significant holding in the KraneShares MSCI China Clean Technology Index ETF (NYSE:KGRN), comprising 9.93% of its portfolio.

Portfolio Pulse from Surbhi Jain

December 18, 2023 | 1:33 pm

BYD Co Ltd has launched the BYD Song L electric SUV in China, directly competing with Tesla's Model Y. The Song L starts at 189,800 yuan (approx. $27,000), significantly lower than the Model Y's starting price of 266,400 yuan (approx. $38,000). BYD reported receiving 28,350 orders since presales began on Oct. 31. The company, backed by Warren Buffett's Berkshire Hathaway, has recently built its 6 millionth new energy vehicle and ceased production of oil-fueled vehicles in April of the previous year.

Portfolio Pulse from Anan Ashraf

December 16, 2023 | 8:46 am

Gary Black, Future Fund Managing Partner, is optimistic about Rivian Automotive Inc's prospects, expecting it to deliver 54,000 vehicles in 2023, including 14,000 delivery vans. AT&T Inc announced a pilot program to purchase EVs from Rivian, marking Rivian's first deal since ending its exclusivity agreement with Amazon.com Inc. Black predicts Rivian will become gross margin positive by Q4 2024 and EBITDA positive by 2026. Rivian shares closed 14% higher at $22.43 following the announcement.

Portfolio Pulse from Anan Ashraf

December 15, 2023 | 5:05 am

Chinese EV manufacturer BYD Co. (OTC:BYDDF) faces a $12 billion selloff due to concerns over its sales targets and smart-car capabilities. The company's shares dropped 12% in November, with doubts cast by competition from Huawei and a volatile market. Despite record sales, BYD's growth is questioned, and Warren Buffett's Berkshire Hathaway (NYSE:BRK) has reduced its stake. The EU's probe into Chinese EV subsidies and a surge in short interest in BYD shares add to the challenges. BYD's market cap gap with Tesla (NASDAQ:TSLA) despite similar revenues and sales also raises analyst concerns.

Portfolio Pulse from Benzinga Neuro

December 05, 2023 | 4:47 am

BYD Co Ltd (OTC:BYDDF) has made its reward program for exposing smear campaigns a permanent policy, offering up to 5 million yuan ($700,918) for information leading to the identification of such activities. Initially a one-year measure started in late 2021, the program aims to protect the company's reputation by combating false information and has been extended indefinitely without a stated reason. BYD, supported by Warren Buffett, has previously taken legal action against defamation, including a lawsuit against an auto blogger in July 2023.

Portfolio Pulse from Benzinga Neuro

December 04, 2023 | 7:10 am

BYD Co Ltd reported a 31% YoY increase in sales volume for November, with 301,903 new energy vehicles sold, including 170,150 BEVs, marking a 49% jump in the BEV segment. The company, backed by Warren Buffett's Berkshire Hathaway, has ceased production of oil-fueled vehicles since April last year, focusing solely on new energy vehicles. BYD's growth brings it close to Tesla Inc's sales figures, with BYD selling approximately 432,000 BEVs in Q3, just below Tesla's 435,000 units.

Portfolio Pulse from Anan Ashraf

December 02, 2023 | 9:01 am

BYD Co Ltd., a Chinese electric vehicle manufacturer, paid tribute to the late Charlie Munger, who was instrumental in Berkshire Hathaway's investment in BYD in 2008. Munger, who passed away on November 28, was remembered by BYD as a 'symbol of wisdom and vision.' Berkshire Hathaway's stake in BYD, initially purchased for $230 million, has significantly increased in value as BYD transitioned from an ICE manufacturer to a producer of new-energy vehicles.

Portfolio Pulse from Shanthi Rexaline

November 29, 2023 | 11:39 am

Bernstein analysts have expressed skepticism about Tesla Inc.'s (NASDAQ:TSLA) high market valuation compared to BYD Co Ltd (OTC:BYDDF), especially given the companies' similar financials. Tesla's market cap is approximately $730 billion, despite a decline in earnings, while BYD, with profits doubling, is valued at $84 billion. Bernstein set a $150 price target for Tesla, suggesting a 40% drop, and a $46 target for BYD, indicating a 60% increase. They believe the valuations of Tesla and BYD will likely converge in the future.

Portfolio Pulse from Benzinga Neuro

November 28, 2023 | 5:24 am

BYD Co Ltd, a Chinese EV manufacturer backed by Warren Buffett, has announced the production of its 6 millionth new energy vehicle (NEV), marking a significant milestone and intensifying competition with Tesla Inc in China. BYD achieved this just three months after producing its 5 millionth NEV and has expanded globally with electric transport solutions in over 70 countries. Meanwhile, Tesla rolled out its two-millionth vehicle from its China gigafactory in September and aims to produce 1.8 million vehicles worldwide this year.

Portfolio Pulse from Anan Ashraf

November 27, 2023 | 6:47 am

Chinese EV manufacturer BYD Co Ltd (OTC:BYDDF) has launched its flagship Han sedan in the United Arab Emirates, marking its expansion into the Middle East amid geopolitical tensions limiting its entry into the U.S. and Europe. The company has partnered with Al-Futtaim to represent it in the U.A.E. and plans to launch four models by the end of the year. BYD reported a 38.49% increase in Q3 sales year-over-year and an 81% increase in net profit. The stock closed lower by 0.53% at $30.78 on Wednesday.

Portfolio Pulse from Lekha Gupta

November 24, 2023 | 11:30 am

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