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

BYD Co Ltd, supported by Warren Buffett, is entering the luxury EV market with a new lineup including a $150,000 supercar and an SUV capable of 360-degree rotation and floating. BYD has surpassed Tesla in global EV sales, with a focus on the Chinese market where it sells five times more cars than Tesla. The company aims to expand internationally, despite facing a subsidy probe in Europe and limited U.S. access. BYD also collaborated with DJI on a vehicle-mounted drone, aiming to export 400,000 cars this year.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 8:53 am

Alibaba Group Holding Limited (BABA) stock is trading lower, in line with broader indexes like iShares China Large-Cap ETF (FXI) and KraneShares CSI China Internet ETF (KWEB), due to a plunge in Hong Kong stocks to a 15-month low. Investor confidence is shaken by China's economic recovery pace and unchanged key lending rates. Chinese tech companies, the real estate sector, EV sector, and financial firms saw stock value declines. Alibaba co-founder Jack Ma expressed support for rural teachers in China. Alibaba lost its position as China's most valuable company to PDD Holdings Inc (PDD) last year, with Alibaba's stock down 42% and PDD's up 51%.

Portfolio Pulse from Anusuya Lahiri

January 22, 2024 | 1:17 pm

Electric vehicle stocks, including Tesla, Rivian, and Fisker, faced challenges this week with Tesla's price cuts and Elon Musk's demand for more control, Rivian's downgrade by Deutsche Bank, and Fisker's probe into braking issues. Tesla's price adjustments and Musk's comments may affect investor sentiment ahead of earnings, while Rivian's downgrade reflects concerns over future losses and production issues. Fisker is cooperating with a federal probe into braking issues but asserts its systems meet requirements. The KraneShares Electric Vehicles ETF also saw a decline.

Portfolio Pulse from Shanthi Rexaline

January 20, 2024 | 2:04 pm

The U.S. Defense Department will be banned from procuring batteries from Chinese manufacturers, including Warren Buffett-backed BYD Co., as part of the National Defense Authorization Act (NDAA). The ban, starting in October 2027, affects companies like CATL, BYD, and four other Chinese firms but does not apply to commercial purchases, allowing companies like Ford Motor Co. to continue their business dealings with CATL for electric vehicle batteries. The Pentagon has not provided a definition of the rule's scope or commented on the ban, which also follows previous restrictions on Chinese semiconductors.

Portfolio Pulse from Anan Ashraf

January 20, 2024 | 8:55 am

Stellantis CEO Carlos Tavares warned against price reductions that could harm profitability and make car manufacturers vulnerable to acquisitions. He indicated that Stellantis is better shielded from the pricing downtrend than competitors, some of whom are facing difficulties due to price cuts. Tavares's comments come in the context of automakers, including Tesla, reducing vehicle prices, especially for EVs, to stay competitive amidst high interest rates and affordability concerns. Tesla recently slashed prices for its Model Y in China and Europe, facing stiff competition from BYD, which overtook Tesla as the world's largest EV maker last quarter.

Portfolio Pulse from Anan Ashraf

January 20, 2024 | 2:32 am

Chinese EV maker BYD Co Ltd, backed by Warren Buffett, in partnership with tech company DJI, showcased the world's first vehicle-mounted drone at its Shenzhen headquarters. The drone, mounted on a Yangwang U8, features automatic battery swapping, charging management, and can capture high-definition aerial footage. BYD also announced a 5 billion yuan investment in all-terrain professional test drive sites across China. BYD surpassed Tesla as the world's largest BEV seller in Q4 2023.

Portfolio Pulse from Anan Ashraf

January 19, 2024 | 12:56 pm

Wells Fargo analyst Colin Langan predicts Tesla Inc. (NASDAQ:TSLA) will face a challenging year with only a 13% growth in deliveries, below its 50% target. Tesla's price reductions in China, a production halt in Germany, and macroeconomic issues could impact its performance. Langan expects a lower 15.4% gross margin for the latest quarter and has reduced Tesla's stock price target to $223. Meanwhile, BYD Co Ltd (OTC:BYDDF), supported by Warren Buffett, has overtaken Tesla in global EV sales.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 9:48 am

Tesla Inc. has stopped Model 3 deliveries in Australia due to non-compliance with local motor-vehicle regulations, specifically regarding child-seat anchor points. The halt, effective from January 17, 2024, is being addressed with authorities, but it's unclear if delivered vehicles will be recalled. This issue is similar to BYD Company's Atto 3 problem in 2022. Tesla may reclassify the Model 3 to avoid the issue. Meanwhile, Australia has introduced stricter safety standards for electric vehicles. Tesla's stock dropped 2.47% to $214.49.

Portfolio Pulse from Shivani Kumaresan

January 17, 2024 | 4:09 pm

BYD Company is shifting from pouch-type to prismatic batteries for its hybrids to address safety concerns. The transition will phase out pouch cells by early 2025, with factories in Shaanxi, Zhejiang, and Qinghai provinces affected. This move aligns with industry trends, as safety issues with pouch batteries have been highlighted by Volkswagen and Tesla. BYD's new 'Short Blade' prismatic batteries are a technological advancement, with hybrids making up nearly half of BYD's 2023 car sales. The financial impact of this shift on BYD is currently unknown. BYDDY shares closed down 3.23% at $52.14.

Portfolio Pulse from Shivani Kumaresan

January 17, 2024 | 2:10 pm

BYD Co Ltd, backed by Warren Buffett's Berkshire Hathaway, plans to invest over $14 billion in vehicle intelligence to enhance its EVs. The investment will fund the Xuanji Architecture, which includes a central brain, AI, and smart driving systems. BYD has surpassed Tesla in global EV sales and aims to increase the proportion of its vehicles with smart driving systems, currently at 57%. The company's move could challenge Tesla, which is also focusing on AI and autonomous driving technologies.

Portfolio Pulse from Ramakrishnan M

January 17, 2024 | 7:02 am

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