Streetbeat News

BYDDF

BYD Co

http://www.byd.com/

Industry

Automobile Manufacturing

Open

49.00

Mkt cap

155B

Volume

59K

High

50.10

P/E Ratio

31.12

52-wk high

52.00

Low

49.00

Div yield

0.01

52-wk low

24.35

The European Commission plans to impose tariffs of up to 25% on Chinese electric vehicles, impacting companies like NIO Inc, Li Auto Inc, XPeng Inc, and Tesla Inc. This move aims to counteract Chinese government subsidies and could escalate to 35%. The tariffs are expected to generate over $2.15 billion annually for the EU budget. NIO and Li Auto stocks traded lower following the news, while XPeng's stock price remained unaffected.

Portfolio Pulse from Anusuya Lahiri

June 12, 2024 | 12:23 pm

The European Commission will impose additional duties of up to 25% on imported Chinese electric vehicles starting next month. This move could impact several car makers and ETFs with exposure to the Chinese EV market.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 9:33 am

XPeng Inc. (NYSE:XPEV) has revealed the name and image of its first model from the Mona sub-brand, the Xpeng M03, which will use BYD batteries. This move follows a similar strategy by NIO Inc. (NYSE:NIO) with its Onvo sub-brand. The M03 is expected to launch in 2024 and will be an A-class smart electric model. XPeng shares are trading higher by 0.63% premarket.

Portfolio Pulse from Nabaparna Bhattacharya

June 11, 2024 | 10:59 am

BYD Chairman Wang Chuanfu stated that foreign politicians are concerned about the rise of Chinese electric vehicles (EVs), highlighting the strength of China's car industry. This comes as Western nations consider increasing tariffs on Chinese EV imports. BYD, which stopped making solely combustion engine cars in 2022, has seen significant growth in EV sales, although Tesla reclaimed the title of the world's largest pure EV seller in Q1 2024.

Portfolio Pulse from Anan Ashraf

June 10, 2024 | 6:29 am

BYD Co., Ltd. maintains its position as the world's second-largest EV battery manufacturer from January to April, with a significant increase in battery installations. Meanwhile, Tesla and Ford saw a decline in vehicle registrations in the UK in May.

Portfolio Pulse from Nabaparna Bhattacharya

June 06, 2024 | 1:36 pm

Chinese automakers, led by BYD, saw significant sales increases in the UK in May, while American automakers Tesla and Ford experienced declines. BYD's sales surged by 2,700%, while Tesla and Ford saw drops of 8% and 31%, respectively.

Portfolio Pulse from Anan Ashraf

June 06, 2024 | 11:30 am

BYD's battery unit, FinDreams, will start supplying cells to Tesla's energy storage division in China from Q1 next year. FinDreams is expected to supply over 20% of the cells for Tesla's Shanghai Megafactory, which has an annual capacity of 40 GWh.

Portfolio Pulse from Nabaparna Bhattacharya

June 05, 2024 | 3:03 pm

NIO and BYD have received approval from Chinese regulators to test their automated driving technology on public roads. This approval marks the first instance of Chinese authorities approving testing for level 3 and level 4 automated driving technologies. Tesla is also preparing to register its 'Full Self-Driving' software in China, highlighting the competitive race in the autonomous driving sector.

Portfolio Pulse from Benzinga Neuro

June 05, 2024 | 1:04 pm

Chinese EV maker BYD Co opened its first dealership in the Caribbean, raising concerns among U.S. automakers about potential market entry. BYD, which has surpassed Tesla in overall vehicle sales, has no current plans to enter the U.S. market but is exploring plant sites in Mexico. President Biden has imposed tariffs on Chinese EV imports to protect American manufacturers.

Portfolio Pulse from Anan Ashraf

June 05, 2024 | 12:16 pm

BYD Co., Ltd. has opened its first showroom in Saudi Arabia, marking a significant step in its global expansion. The showroom, located in Riyadh, offers five models for test drives and is part of a broader strategy to capture 30% of Riyadh's automotive market with NEVs by 2030.

Portfolio Pulse from Nabaparna Bhattacharya

May 31, 2024 | 3:58 pm

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