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

Tesla and Chinese automakers, including BYD, are projected to miss their 2023 sales growth targets by at least 50%, according to industry sources in China.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 1:15 pm

In Q2, global sales of battery electric vehicles (BEVs) surpassed 2.15 million units, a 39.3% YoY increase. Tesla and Warren Buffett-backed BYD led the market with shares of 21.7% and 16.2% respectively. GAC Aion secured the third spot with a 6% market share. When combined, Volkswagen and Audi outweigh GAC Aion in terms of market share. Other key players include General Motors, SAIC Motors, Wuling, Hyundai, BMW, Mercedes-Benz, and Kia. The quarter also saw the sale of 876,000 plug-in hybrids, with BYD leading with a 36.5% market share.

Portfolio Pulse from Anan Ashraf

August 18, 2023 | 6:24 am

Chinese EV manufacturer BYD Co Ltd has produced its 5 millionth new energy vehicle, becoming the first automaker globally to achieve this milestone. The company, backed by Warren Buffett's Berkshire Hathaway, has seen rapid production growth, with the last 2 million vehicles produced in just over two years. Last month, BYD produced 272,414 new energy vehicles and sold 262,161 units, including 18,169 units overseas. BYD's production numbers are higher than Tesla's, although Tesla only produces battery electric vehicles.

Portfolio Pulse from Anan Ashraf

August 10, 2023 | 6:31 am

According to the China Passenger Car Association, China sold 1.7 million passenger cars in July, a decrease of 2.6% YoY. Tesla exported 32,862 China-made vehicles in July.

Portfolio Pulse from Charles Gross

August 08, 2023 | 8:56 am

The week ending August 4 saw mixed results for electric vehicle (EV) stocks, with Tesla's China sales dropping 31% MoM but growing 128% YoY. Tesla also faced a class action lawsuit over exaggerated vehicle range claims and recalled 271 Model S and X vehicles in China. Fisker showcased its future product portfolio, including the world's lightest EV pickup truck, the Fisker Alaska. Nikola announced its fourth CEO transition in four years, with former GM executive Stephen Girsky taking over. GM-EVgo surpassed 1,000 fast-charging stall installations and reported better-than-expected Q2 results. Toyota expressed its intention to compete with domestic rivals in China's EV market.

Portfolio Pulse from Shanthi Rexaline

August 05, 2023 | 12:50 pm

Chinese carmaker BYD is under investigation by Indian tax authorities over allegations of underpayment of levies on imported electric vehicle (EV) parts. The investigation could potentially impact the company's operations in India.

Portfolio Pulse from Charles Gross

August 04, 2023 | 10:43 am

Indonesia is courting automakers, including Tesla Inc. (NASDAQ:TSLA), with attractive incentives for electric vehicle (EV) production. The country's rich nickel reserves, crucial for battery production, have been a significant part of the negotiations. Indonesia is reportedly planning to offer substantial incentives to companies, including Tesla and BYD, and is willing to benchmark their offers against other countries vying for the same companies.

Portfolio Pulse from Benzinga Neuro

July 27, 2023 | 10:33 am

Ark Invest, led by Cathie Wood, sold 64,800 shares of BYD CO LTD through its ARK Autonomous Technology & Robotics ETF (ARKQ) and bought 61,741 shares of Moderna Inc through its ARK Genomic Revolution ETF (ARKG). Other trades included buying shares of Accolade Inc and Cameco Corp, and selling shares of Exact Sciences Corp and Schrodinger Inc.

Portfolio Pulse from Benzinga Neuro

July 25, 2023 | 3:04 am

Chinese EV manufacturer BYD Co Ltd, backed by Warren Buffett's Berkshire Hathaway, is suing auto blogger Longzhu-Jiche for defamation, demanding the removal of infringing remarks, a public apology, and $700,000 in compensation. The company claims the blogger has caused serious damage to BYD's brand reputation by posting false information and maliciously slandering the company.

Portfolio Pulse from Anan Ashraf

July 24, 2023 | 9:50 am

The revamped Moskvitch car, a classic Russian car, has been assembled using kits purchased from China. The cars are assembled in a factory formerly owned by Renault. The parts for the new Moskvitch car are sourced from JAC Motors, a Chinese automotive manufacturer. China's influence in auto manufacturing is evident with companies such as Nio Inc and BYD Motors. The Russian carmaker plans to increase production in 2024 and incorporate more Russian components.

Portfolio Pulse from Aaron Bry

July 20, 2023 | 4:42 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.