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

NVIDIA Corporation (NVDA) showcased its new Blackwell GPU and announced partnerships with major companies like Amazon (AMZN), Alphabet (GOOG, GOOGL), Microsoft (MSFT), Oracle (ORCL), SAP (SAP), ServiceNow (NOW), Snowflake (SNOW), NetApp (NTAP), and Dell Technologies (DELL) at its GTC AI event. The Blackwell platform is designed to power generative AI, enhancing capabilities in weather prediction, enterprise software, robotics, and healthcare. Nvidia also revealed collaborations in the automotive sector and its Omniverse Cloud streaming on Apple's (AAPL) Vision Pro headset.

Portfolio Pulse from Chris Katje

March 18, 2024 | 11:11 pm

China's EV market is experiencing significant growth, with BYD, backed by Warren Buffett, leading as the world's largest seller of electric vehicles. BYD predicts NEV penetration will exceed 50% in the next three months. Nio focuses on long-life batteries, XPeng targets the budget segment with a new brand, Li Auto considers adjusting its sales target, and Huawei expects its auto unit to be profitable by 2024.

Portfolio Pulse from Anan Ashraf

March 18, 2024 | 10:59 am

India reportedly lowers import taxes on select electric vehicles to 15%, a significant reduction from the previous maximum of up to 100%. This policy allows eligible companies to import up to 8,000 EVs annually, priced at $35,000 or higher. Tesla, Inc. (TSLA), BYD Co. (BYDDY), and VinFast Auto Ltd. (VFS) are directly impacted as they compete for entry into the Indian market. Tesla faces challenges with an aging lineup and competition, particularly from BYD, while VinFast is investing $2 billion in a factory in Tamil Nadu, India.

Portfolio Pulse from Nabaparna Bhattacharya

March 15, 2024 | 4:28 pm

Mercedes-Benz CEO Ola Källenius has called for the European Union to lower tariffs on Chinese electric vehicles (EVs) amid a European Commission investigation into Chinese automotive subsidies. Källenius argues that reducing tariffs would foster competition, enhancing European car quality. The investigation focuses on whether Chinese subsidies allow their carmakers, like BYD and Geely, to undercut European manufacturers. Stellantis and Renault, facing competition from Chinese EVs, have different views, with Stellantis expressing concerns over the threat from Chinese vehicles.

Portfolio Pulse from Benzinga Neuro

March 15, 2024 | 1:07 pm

Nissan Motor Co., Ltd (OTC:NSANY) and Honda Motor Co., Ltd (NYSE:HMC) have announced a strategic partnership focusing on vehicle electrification and intelligence to achieve carbon neutrality and zero traffic-accident fatalities. This collaboration includes a feasibility study on automotive software platforms, EV components, and complementary products. Amidst tough competition in China and declining sales, both companies are considering production cutbacks, contrasting with BYD Company's (OTC:BYDDY) expansion in Japan. Honda aims for carbon neutrality by 2050 with a plan to sell only electrified cars by 2040, while Nissan targets carbon neutrality across its product lifecycle by 2050. Additionally, Honda's stock is currently trading above its 200-day moving average, indicating a bullish signal for investors.

Portfolio Pulse from Shivani Kumaresan

March 15, 2024 | 12:50 pm

NIO Inc. partners with CATL to develop batteries with longer life, aiming to reduce overall EV costs. This collaboration follows a recent initiative with BYD Co. and others to develop solid-state batteries. Nio plans to cut battery rental fees by up to 33%, potentially reducing EV purchase costs significantly. Despite a 25% increase in vehicle deliveries year over year, NIO's stock is trading lower in the premarket session.

Portfolio Pulse from Nabaparna Bhattacharya

March 14, 2024 | 12:00 pm

Nissan Motor Co Ltd (OTC:NSANY) and Honda Motor Co Ltd (NYSE:HMC) are considering production cuts in China due to increased competition from electric vehicle manufacturers like BYD Company (OTC:BYDDY). Nissan plans a 30% reduction, about 500,000 cars, and Honda looks at a 20% cut, around 1.2 million vehicles. This decision comes as both companies face declining sales in China, with Nissan's sales dropping 16.1% and Honda's by 10% last year. Nissan is also planning to restructure its production with local partners to focus on exports.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 6:04 pm

BYD (OTC:BYDDY) and Xiaomi (OTC:XIACF) are intensifying competition in the EV market by focusing on making electric vehicles more affordable, aiming to outcompete gasoline vehicles. BYD has surpassed Tesla (NASDAQ:TSLA) as the largest EV manufacturer globally and is updating its technology to lower prices further. Xiaomi is entering the EV market with its SU7 sedan, ready to join the price war. This aggressive pricing strategy is leading to a broader adoption of EVs in China, though it's also causing a decline in deliveries for major players like BYD and Tesla.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 1:04 pm

BYD (OTC:BYDDF) (OTC:BYDDY), a rival to Tesla, has reduced the price of its Seagull EV model in China by 5.4%, setting the new price at approximately $9,696. This move is part of BYD's strategy to compete in the fiercely competitive Chinese EV market, where it faces competition from both domestic and international companies like Geely Auto and Tesla. The price reduction follows a 37% YoY drop in BYD's sales in February, despite growth in 2023 and January 2024.

Portfolio Pulse from Anan Ashraf

March 06, 2024 | 7:06 am

EV deliveries in China continue to decline, impacting shares of major EV manufacturers. Nio, XPeng, Li Auto, Tesla, and BYD all experienced significant share price drops following the release of February delivery figures by the China Passenger Car Association. Tesla and BYD's shipments decreased, with Tesla hitting its lowest level since December 2022 and BYD since May 2022. Li Auto, despite a YoY rise, saw a month-on-month drop, as did Nio and XPeng. Nio's Q4 results showed widened losses and a disappointing outlook, contrasting with XPeng and Li Auto's profitability. The intense competition and price war in the EV market in China are highlighted.

Portfolio Pulse from Upwallstreet

March 05, 2024 | 5:49 pm

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