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

November saw record EV sales and deliveries, with mixed results for major players. Tesla's China-made EV sales dropped by 17.8% YoY, but the company is still on track to meet its annual goal of 1.8 million deliveries. BYD set a record with 301,378 vehicle deliveries in November, a 31% increase YoY. XPeng's sales surged by 245% YoY, continuing a 10-month streak of MoM growth. Ford's overall vehicle sales dipped by 0.5%, but it achieved a record in EV sales with 8,958 units sold, boosting its shares by 1.4% during afternoon trading.

Portfolio Pulse from Upwallstreet

December 05, 2023 | 7:36 pm

BYD Co Ltd reported a 31% YoY increase in sales volume for November, with 301,903 new energy vehicles sold, including 170,150 BEVs, marking a 49% jump in the BEV segment. The company, backed by Warren Buffett's Berkshire Hathaway, has ceased production of oil-fueled vehicles since April last year, focusing solely on new energy vehicles. BYD's growth brings it close to Tesla Inc's sales figures, with BYD selling approximately 432,000 BEVs in Q3, just below Tesla's 435,000 units.

Portfolio Pulse from Anan Ashraf

December 02, 2023 | 9:01 am

BYD Co Ltd., a Chinese electric vehicle manufacturer, paid tribute to the late Charlie Munger, who was instrumental in Berkshire Hathaway's investment in BYD in 2008. Munger, who passed away on November 28, was remembered by BYD as a 'symbol of wisdom and vision.' Berkshire Hathaway's stake in BYD, initially purchased for $230 million, has significantly increased in value as BYD transitioned from an ICE manufacturer to a producer of new-energy vehicles.

Portfolio Pulse from Shanthi Rexaline

November 29, 2023 | 11:39 am

BYD Co Ltd, a Chinese EV manufacturer backed by Warren Buffett, has announced the production of its 6 millionth new energy vehicle (NEV), marking a significant milestone and intensifying competition with Tesla Inc in China. BYD achieved this just three months after producing its 5 millionth NEV and has expanded globally with electric transport solutions in over 70 countries. Meanwhile, Tesla rolled out its two-millionth vehicle from its China gigafactory in September and aims to produce 1.8 million vehicles worldwide this year.

Portfolio Pulse from Anan Ashraf

November 27, 2023 | 6:47 am

BYD Company Limited (OTC:BYDDY) is poised to potentially overtake Tesla Inc (NASDAQ:TSLA) as the world's largest EV maker by the end of 2023. Worksport Ltd. (NASDAQ:WKSP) has announced that its COR portable battery system has entered the Test Phase, moving closer to market release. Hyundai Motor Company (OTC:HYMTF) will use a customized version of Worksport's SOLIS and COR for its Santa Cruz pickup. Hyundai has also partnered with Amazon.com Inc (NASDAQ:AMZN) to sell cars on Amazon and will use Amazon Web Services as its cloud provider, with plans to integrate Amazon Alexa into its vehicles by 2025.

Portfolio Pulse from Upwallstreet

November 20, 2023 | 8:20 pm

Jefferies analyst Philippe Houchois suggests Tesla should cancel the Cybertruck to refocus on core strengths and simplicity. He maintains a Neutral rating on Tesla but cuts the price target from $250 to $210, citing a slow growth period for the next 12-18 months. Houchois lowers Tesla's EBIT and free cash flow estimates for 2023 and 2024, but notes positives like Model 3 refresh, easing China pressure, and potential expansion at Giga Berlin. Tesla shares were down 0.4% to $233.15.

Portfolio Pulse from Shanthi Rexaline

November 20, 2023 | 5:49 pm

Chinese EV manufacturer BYD Co Ltd has announced that it has offset carbon emissions equivalent to 740.4 million trees as of November 11, 2023. The company, which is the world's largest EV seller, ceased production of internal combustion engine vehicles in March 2022 to focus on new energy vehicles. BYD has sold 2.4 million new energy vehicles year-to-date, up from 1.4 million in the same period last year, with battery-electric vehicles being the majority.

Portfolio Pulse from Anan Ashraf

November 17, 2023 | 8:31 am

Li Auto (NASDAQ:LI) surpassed Tesla (NASDAQ:TSLA) in October car sales, selling 40,422 cars compared to Tesla's 28,626. Li Auto expects to maintain similar monthly sales in Q4 and is launching new battery-only vehicles in 2024. Li Auto reported strong Q3 results with a profit of $386 million and revenue of $4.75 billion. Tesla, facing competition from BYD (OTC:BYDDY) and others, reported its first revenue and earnings miss since 2019. BYD is expanding in Europe with a new facility in Hungary.

Portfolio Pulse from Upwallstreet

November 14, 2023 | 1:22 pm

Tesla Inc (NASDAQ:TSLA) is facing a decline in EV market share in China, with October 2023 deliveries down 2.6% from September, while BYD Co Ltd (OTCPK:BYDDF) saw a 5% increase. Tesla's aggressive discounts in China have affected margins, but with factory upgrades complete, the revamped Model 3 has begun deliveries. The Chinese market is focusing on AI and smart cockpits, with domestic and non-Chinese OEMs, including Volkswagen AG (OTCPK:VLKAF), Bayerische Motoren Werke AG (OTCPK:BMWYY), Toyota Motor Corp (NYSE:TM), and General Motors Co (NYSE:GM), investing in R&D. Elon Musk's new AI venture, xAI, has produced Grok, which may be integrated into Tesla vehicles to leverage their onboard computing for AI applications.

Portfolio Pulse from Surbhi Jain

November 13, 2023 | 5:46 pm

Chinese electric vehicle company BYD Co., Ltd. plans to build its first European car factory in Hungary. The decision was made internally and an announcement will be made at the end of the year. BYD reported Q3 2023 earnings that beat analyst expectations, with sales of 162 billion RMB ($22.1 billion), a 38.49% improvement from the same period a year ago, and a net profit of 9.7 billion RMB, up 81% over the past year.

Portfolio Pulse from Nabaparna Bhattacharya

November 04, 2023 | 6:33 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.