Streetbeat News

BYDDF

BYD Co

http://www.byd.com/

Industry

Automobile Manufacturing

Open

33.52

Mkt cap

106B

Volume

12K

High

33.95

P/E Ratio

21.09

52-wk high

42.00

Low

33.42

Div yield

0.01

52-wk low

21.80

NIO Inc. (NYSE:NIO) shares are trading lower in the premarket session on Wednesday, having lost over 30% in the past six months. BofA Securities analyst Ming Hsun Lee maintained a Neutral rating on NIO and lowered the price target from $6.5 to $5.9. NIO is expanding in Europe with a new NIO House in the Netherlands. China is allocating around RMB6 billion yuan ($830 million) for R&D in all-solid-state batteries, with NIO being a notable player in this space. NIO's 150-kWh semi-solid-state battery, introduced in 2021, is currently in trial operations.

Portfolio Pulse from Nabaparna Bhattacharya

May 29, 2024 | 12:48 pm

China is set to allocate over $830 million to advance solid-state battery technology, benefiting key suppliers like Tesla's CATL and Nio-backed WeLion. This investment aims to enhance safety, lifespan, and charging speed of batteries, potentially unlocking a multi-trillion yuan market.

Portfolio Pulse from Anan Ashraf

May 29, 2024 | 12:15 pm

President Joe Biden has increased tariffs on Chinese electric vehicles to 100% to protect American automakers. Despite this, BYD's budget-friendly Seagull model may remain competitively priced. BYD has overtaken Tesla as the largest global EV manufacturer and plans to introduce the Seagull in Europe next year. The Seagull's arrival is expected to intensify competition among European automakers.

Portfolio Pulse from Nabaparna Bhattacharya

May 28, 2024 | 1:22 pm

A study by AutoPacific reveals that 76% of Americans under 40 are open to buying Chinese EVs despite data privacy concerns. The Biden administration has increased tariffs on Chinese EVs to over 100%, impacting companies like BYD Co Ltd.

Portfolio Pulse from Anan Ashraf

May 28, 2024 | 11:51 am

Zhejiang Geely Holding Group (OTC:GELLY) has entered the global top 10 for auto sales in Q1 2024, marking a first for a Chinese carmaker. Geely sold 730,000 vehicles, a 27% year-on-year growth, driven by strong electric vehicle exports. The company surpassed Mercedes-Benz and BMW in the rankings. Geely's EV arm, Zeekr Intelligent Technology Holding Limited (NYSE:ZK), aims to double car deliveries in 2024.

Portfolio Pulse from Benzinga Neuro

May 28, 2024 | 9:36 am

BYD Co., Ltd. (OTC:BYDDF) (OTC:BYDDY) is set to unveil its fifth-generation DM hybrid technology, which promises a vehicle range of up to 2,000 kilometers. The new technology will be launched on May 28, and the company plans to transition to this model gradually. BYD's shares closed lower by 2.82% to $27.21 on Thursday.

Portfolio Pulse from Nabaparna Bhattacharya

May 24, 2024 | 11:00 am

BYD Co. (OTC:BYDDF) is set to launch its budget-friendly Seagull EV in Europe, challenging local automakers with a sub-$21K price tag. The move intensifies competition in the EV market, particularly affecting Tesla (NASDAQ:TSLA) and other European manufacturers.

Portfolio Pulse from Benzinga Neuro

May 22, 2024 | 6:50 am

BYD Co. faces a strike at its Wuxi factory in China as workers protest against a new work schedule that reduces their income. The strike highlights labor issues in China and comes at a time when BYD is expanding its global market presence.

Portfolio Pulse from Benzinga Neuro

May 21, 2024 | 9:19 am

Volkswagen has exited discussions with Renault on a joint affordable EV project. Renault will continue developing the electric Twingo independently, while Volkswagen plans its own low-cost EV strategy. This development highlights the competitive pressure from Chinese automakers in the European market.

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 3:52 pm

Nio Inc (NYSE:NIO) stock was trading higher Thursday amid reports of launching its first vehicle under the Onvo brand, priced lower than Tesla's Model Y. However, the stock reversed its gains. Nio plans to deliver the L60 SUV in September and aims for international sales. The L60 will use affordable batteries from BYD Co. Nio's stock has lost 33% in the last 12 months. Investors can gain exposure via KraneShares MSCI China Clean Technology Index ETF (NYSE:KGRN) and KraneShares Electric Vehicles And Future Mobility Index ETF (NYSE:KARS).

Portfolio Pulse from Anusuya Lahiri

May 16, 2024 | 3:39 pm

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