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

Chinese EV traders are exploiting a loophole that allows the export of new cars as secondhand, bypassing trade barriers. This tactic has enabled the export of popular models from BYD Co and Li Auto to markets like Russia, Kazakhstan, and Saudi Arabia, despite a 25% tariff on Chinese auto imports by the US. The demand for Chinese EVs is rising globally, leading to strategic discussions among China's top automakers.

Portfolio Pulse from Benzinga Neuro

February 12, 2024 | 5:57 am

Tesla Inc (TSLA) reported a disappointing quarter with missed analyst estimates and a warning of slower growth, while Chinese EV makers Nio (NIO), XPeng (XPEV), and Li Auto (LI) showed rising YoY deliveries. BYD Company Limited (BYDDY) surpassed Tesla in the last quarter of 2023 but saw a MoM drop. Worksport (WKSP) reported a significant revenue increase in its fourth quarter, indicating strong performance in the EV accessory market. Traditional automakers like General Motors (GM) and Ford Motor (F) are scaling down their EV efforts due to challenges.

Portfolio Pulse from Upwallstreet

February 07, 2024 | 3:04 pm

Warren Buffett's Berkshire Hathaway (BRK) is celebrated as a turnaround story, evolving from three failed businesses to a conglomerate nearing a $1 trillion valuation. The company's adaptability and strategic acquisitions, including Pilot Travel Centers, have been pivotal. Berkshire also benefits from investments in BYD Co Ltd (BYDDF/BYDDY) and Ferrari (RACE), with BYD's sales volume increasing by 33.1% year-over-year in January 2024.

Portfolio Pulse from Ananya Gairola

February 03, 2024 | 9:13 am

The start of 2024 has shown a slow beginning for EV sales in China, with major companies like BYD, Nio, Li Auto, XPeng, and Tesla reporting YoY growth but MoM drops in deliveries. Despite the slow start, companies are pushing forward with innovations and expansions, such as Li Auto's charging network and XPeng's plant upgrade. Tesla has introduced new discounts in China, while BYD boasts a significant increase in overseas sales and expects a substantial rise in annual earnings. Worksport Ltd has launched new products and announced compatibility with major truck brands, indicating a strong start to 2024.

Portfolio Pulse from Upwallstreet

February 02, 2024 | 4:24 pm

BYD Co Ltd reported a 33.1% YoY growth in January sales, selling 201,493 new energy vehicles, including 36,174 units overseas. The company, backed by Warren Buffett's Berkshire Hathaway, has shifted entirely to producing new energy vehicles since April 2022. In Q4 2023, BYD surpassed Tesla as the biggest BEV seller. The company expects a net profit increase of at least 74.5% for FY 2023.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 6:18 am

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), has significantly changed his view on BYD Co. Ltd. (OTC:BYDDY), acknowledging its competitive strength in the EV market after BYD surpassed Tesla in EV sales. Musk's comments followed Tesla's reported 12% drop in shares and missed earnings, highlighting the intense competition in the electric car industry.

Portfolio Pulse from Caleb Naysmith

February 01, 2024 | 8:30 pm

Chinese EV maker BYD Co Ltd, backed by Warren Buffett's Berkshire Hathaway, forecasts a minimum 74.5% increase in net profit for FY23, attributing the rise to higher sales volumes. BYD surpassed Tesla in Q4 as the largest BEV seller, moving 526,000 units compared to Tesla's 485,000. The company's expected net profit is between 29,000 million yuan and 31,000 million yuan, with a basic EPS of 9.98 to 10.67 yuan, up from 5.71 yuan in FY22.

Portfolio Pulse from Anan Ashraf

January 30, 2024 | 9:54 am

BYD Co Ltd, backed by Warren Buffett, is preparing for intense competition in China's EV market and is open to collaboration with Tesla Inc. BYD has outperformed Tesla in vehicle production in 2023 and expects tough competition to lead to the elimination of weaker brands within two to three years. BYD's GM of Branding and PR, Yunfei Li, praised Tesla and suggested cooperation to grow the EV market. Tesla's CEO Elon Musk confirmed BYD as a supplier. BYD anticipates being profitable amidst competition and has invested heavily in vehicle intelligence and NEV evolution. The company expects a significant profit increase for the last year, while Tesla saw a 15% gross profit decline in 2023. Berkshire Hathaway has reduced its stake in BYD.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 5:32 am

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), during an earnings call, highlighted the competitive edge of Chinese automakers, particularly noting their potential to 'demolish' global rivals if not for trade barriers. Musk acknowledged BYD (OTC:BYDDF) (OTC:BYDDY) as a key battery supplier, along with Panasonic (OTC:PCRFF) (OTC:PCRFY), CATL, and LG (OTC:LGEIY), and plans to increase orders in 2024. Despite Tesla's revenue increase to $25.17 billion in Q4, it fell short of expectations. The rise of Chinese EV makers like BYD, which outsold Tesla in the last quarter, is intensifying competition, prompting Tesla to reduce prices in China and Europe.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 3:10 am

Zhao Changjiang, a senior executive at BYD Co Ltd, warned Tesla Inc of challenges in advanced driver-assistance systems and car models for 2024, particularly from BYD's Denza N7 model. Tesla, facing a slowdown in global EV demand, has cut prices in China and seen a significant drop in market valuation. BYD, supported by Warren Buffett, has surpassed Tesla in EV sales in Q4 2023 and is advancing in vehicle intelligence. Berkshire Hathaway has reduced its stake in BYD, selling shares worth $80.7 million.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 7:13 am

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