Streetbeat News

BYDDY

BYD Co

http://www.byd.com/

Open

67.72

Mkt cap

110B

Volume

46K

High

67.93

P/E Ratio

21.07

52-wk high

83.67

Low

67.45

Div yield

0.01

52-wk low

43.62

Tesla Inc. (NASDAQ:TSLA) has reportedly halted its gigacasting manufacturing process, a move aimed at cutting costs amid declining sales and increasing competition, particularly from BYD Co. (OTC:BYDDY) (OTC:BYDDF) and traditional automakers like Toyota Motor Corp (NYSE:TM). This decision marks a strategic shift for Tesla, which had previously aimed to innovate car manufacturing by casting large sections of the vehicle's underbody in one piece. Despite this pause, Tesla plans to focus on producing more affordable cars using existing platforms and has not completely abandoned the small-vehicle platform intended for the so-called Model 2, now pivoting towards developing a self-driving robotaxi.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 5:42 am

Cathie Wood's Ark Invest made notable trades by purchasing shares of BYD Co Ltd (BYDDY), Palantir Technologies Inc (PLTR), and Advanced Micro Devices Inc (AMD) through its ARK Autonomous Technology & Robotics ETF (ARKQ). The investment in BYDDY, a Tesla rival, and the continued accumulation of PLTR shares, alongside a new acquisition of AMD stock, reflect Ark Invest's strategic positioning in the technology and electric vehicle sectors.

Portfolio Pulse from Shivdeep Dhaliwal

May 01, 2024 | 3:26 am

BYD Co Ltd is recalling 16,666 Seagull EVs due to faulty reversing cameras caused by software issues in vehicles produced between April 7, 2023, and May 31, 2023. The company plans to address the problem with an over-the-air software upgrade, and for vehicles that cannot be fixed remotely, BYD will contact customers for a direct software upgrade. This recall comes as BYD maintains its position as the top EV maker in China, with a 13.44% increase in sales of new energy vehicles in the first quarter of 2024.

Portfolio Pulse from Anan Ashraf

April 30, 2024 | 12:42 pm

Cathie Wood's Ark Invest engaged in significant stock purchases ahead of AMD's earnings report, buying shares in AMD, TSMC, and Qualcomm through its ARKQ ETF. Additionally, Ark bought shares in BYD Co. Ltd., a Chinese EV company backed by Warren Buffett. The iShares Semiconductor ETF (SOXX) also saw an increase. Ark's ARKK ETF closed up 2.41%.

Portfolio Pulse from Shanthi Rexaline

April 30, 2024 | 8:54 am

BYD Co. is charging significantly higher prices for its EVs in Europe compared to China, aiming for higher profits amidst fierce domestic competition. Unlike Tesla, which marks up its Model 3 by 37% in Germany, BYD's markups can reach nearly triple the Chinese prices. This strategy helps BYD avoid the 'cheap Chinese product' stigma and build a premium brand. However, Europe's slowing EV market and potential trade tensions could challenge BYD's strategy. Tesla's more modest markup contrasts with BYD's aggressive pricing, reflecting different market strategies.

Portfolio Pulse from Benzinga Neuro

April 29, 2024 | 1:43 am

Cathie Wood's Ark Invest made significant trades, notably purchasing shares of Palantir Technologies ahead of its Q1 earnings, and buying Meta Platforms and Roku shares following their earnings announcements. Ark also invested in BYD Co. Ltd., a Buffett-backed EV company. Palantir is expected to report increased earnings and revenue. Meta's stock dropped due to soft revenue guidance, while Roku's shares fell despite a quarterly beat. Ark's buying spree included stocks that experienced recent sell-offs.

Portfolio Pulse from Shanthi Rexaline

April 27, 2024 | 7:46 pm

Tesla, Inc. (TSLA) led a recovery in EV stocks with its earnings call updates, including an accelerated production start for a new model and the Tesla Semi's manufacturing plans. Fisker, Inc. (FSRN) is in talks for a potential sale due to liquidity concerns. BYD Co. Ltd. (BYDDY, BYDDF) announced its first energy pickup truck, the BYD Shark. VinFast Auto Ltd. (VFS) may receive additional investment from its founder. Rivian offered discounts on new R1 models. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) saw a weekly gain.

Portfolio Pulse from Shanthi Rexaline

April 27, 2024 | 12:48 pm

China introduces a subsidy of up to 10,000 yuan ($1,379.98) for trading in old vehicles for new energy-efficient ones, valid until the end of 2024. This move aims to boost consumer sentiment and increase EV adoption in the world's largest auto market. BYD Co, backed by Warren Buffett, leads the Chinese EV market with a 13.44% year-on-year sales increase in the first quarter.

Portfolio Pulse from Anan Ashraf

April 26, 2024 | 1:03 pm

Tesla Inc (TSLA) is refocusing on affordable EVs to regain its market position, while Worksport Ltd (WKSP) is innovating in the EV accessories market, signaling potential growth with its solar-powered truck bed cover and portable battery system. Despite a slowdown in the EV market, both companies are adapting through innovation, with Worksport expecting a significant sales increase in 2024 and Tesla facing slower growth but continuing to innovate.

Portfolio Pulse from Upwallstreet

April 25, 2024 | 5:39 pm

The Beijing International Automotive Exhibition highlighted the prominence of Chinese EV manufacturers, particularly BYD (OTC:BYDDF) (OTC:BYDDY) and Xiaomi, showcasing the industry's shift towards electric mobility. BYD, backed by Warren Buffett, and Xiaomi, with over 75,000 orders for its SU7 sedan, were central attractions. The event underscored the rapid transformation in China's automotive sector towards NEVs, with foreign automakers also adjusting their strategies to focus more on electric vehicles.

Portfolio Pulse from Anan Ashraf

April 25, 2024 | 12:42 pm

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