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, Inc. (NASDAQ:TSLA) and BYD Company Limited (OTC:BYDDY) (OTC:BYDDF) have signed a commitment to fair competition and to enhance 'core socialist values' in the Chinese auto market, aiming to end the price war that has affected the EV industry. This comes after Tesla's record-breaking second-quarter deliveries in China, which were achieved through price cuts and promotional efforts. The commitment highlights Tesla's resilience in China, despite strained U.S.-China relations and intensifying competition in the domestic market.

Portfolio Pulse from Shanthi Rexaline

July 06, 2023 | 1:01 pm

Apple lost an appeal over 4G patent infringement in London court, marking another victory for Optis Cellular Technology. Deutsche Bank and Commerzbank face a $348M lawsuit by RusKhimAlyans, a Gazprom subsidiary. Nikola Corp plans to liquidate the assets of battery maker Romeo Power. Pfizer and Samsung Biologics signed two agreements for long-term manufacturing of Pfizer's biosimilar portfolio, worth $897M. Airbus is investing in a new Wing Technology Development Centre at its Filton site in the UK. TSMC expects a significant revenue rebound due to the launch of new Apple iPhones and strong demand for AI chips. Rivian Automotive reported Q2 production and delivery numbers. Evotec secured a US government contract for orthopoxvirus antibody. Mondelēz recalled two varieties of belVita biscuits in the US over peanut contamination. BYD plans to invest $620M in Brazil's Camaçari Industrial Complex. Alibaba is conducting a strategic review of video streaming platforms Youku and Tudou. UPS drivers consider going on strike after failed labor talks. OMV and ADNOC are in talks to create a chemicals and plastics company worth over $30B. Haleon is considering divesting some smoking cessation products to sell non-core businesses.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 1:23 pm

Chinese EV manufacturer BYD Co, backed by Warren Buffett, plans to invest $620 million in Brazil's Camaçari industrial complex. The company will start operations in three factories simultaneously, creating over 5,000 jobs. The factories, set to start operations in 2024, will produce electric buses and trucks, hybrid and electric automobiles, and focus on lithium and iron phosphate processing. This move is expected to boost domestic production in Brazil and provide more competitive local prices.

Portfolio Pulse from Nabaparna Bhattacharya

July 05, 2023 | 12:39 pm

Chinese EV stocks are experiencing an increase in their trading values following the release of strong vehicle delivery numbers for June and Q2.

Portfolio Pulse from Bill Haddad

July 03, 2023 | 11:20 am

Chinese EV manufacturer BYD, backed by Warren Buffett, reported a significant increase in sales last month. Battery electric vehicle deliveries for June rose 84.3% YoY and 7.2% MoM to 128,196 units. Overall, BYD delivered 1,255,637 new energy vehicles year-to-date in June, surpassing Tesla's 889,015 deliveries. However, Buffett has been reducing his stake in BYD, which now stands at 8.98%.

Portfolio Pulse from Anan Ashraf

July 03, 2023 | 3:06 am

Xpeng has launched its G6 Ultra Smart Coupe SUV in China, leading to a 6.76% increase in its premarket shares.

Portfolio Pulse from Charles Gross

June 30, 2023 | 8:51 am

DigiTimes reports that the recovery of the Chinese auto market is expected to be insignificant in June. The report may mention US-listed companies BYD Co Ltd (BYDDF), Li Auto Inc. (LI), NIO Inc. (NIO), Tesla Inc. (TSLA), and XPeng Inc. (XPEV).

Portfolio Pulse from Charles Gross

June 28, 2023 | 11:48 am

Tesla's Q2 sales in China are expected to increase by 13% quarter-over-quarter to 155,000 units, despite its market share in the battery EV market likely shrinking from 16% to 13.7%, according to China Merchants Bank International Securities analyst Shi Ji. Other domestic players such as BYD have seen their market share increase. Tesla's direct sales model could make expansion into lower-tiered cities expensive. China is a key market for Tesla, with about half of its total production coming from the country.

Portfolio Pulse from Shanthi Rexaline

June 28, 2023 | 10:16 am

Berkshire Hathaway has been reducing its stake in Chinese EV maker BYD, with the latest sale involving around 2.53 million Hong Kong-listed shares valued at $86.3 million. This has led to speculation of a divergence in investment strategies between Warren Buffett and Charlie Munger. BYD's sales figures show strong performance, with a 98% YoY increase in new energy vehicle sales.

Portfolio Pulse from Shanthi Rexaline

June 27, 2023 | 8:31 am

China's Industry Ministry has announced a six-month campaign to promote sales of New Energy Vehicles (NEVs) in rural areas, inviting companies like BYD, Honda, and Volkswagen to participate.

Portfolio Pulse from Charles Gross

June 15, 2023 | 11:15 am

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