Streetbeat News

BYDDY

BYD Co

http://www.byd.com/

Open

100.09

Mkt cap

156B

Volume

274K

High

102.98

P/E Ratio

31.99

52-wk high

103.38

Low

100.09

Div yield

0.01

52-wk low

50.00

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

Fund Manager Freddie Lait from Latitude Investment Management advises against investing in EV stocks like Tesla due to profitability concerns. He recommends focusing on established automakers such as Ferrari, General Motors, Volkswagen, and BMW, highlighting Ferrari's strong business performance and future plans for an electric vehicle.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 2:04 am

Chinese EV makers, led by BYD Company ADR, are outpacing their global counterparts, including Tesla, in production speed and innovation. This has raised concerns among U.S. automakers and government officials about the potential market impact and national security threats posed by Chinese EVs. Despite facing a 25% tariff barrier, Chinese companies like NIO Inc are planning to enter the U.S. market by 2025. The U.S. is responding with investments in EV infrastructure and probes into the security risks of Chinese EV technology.

Portfolio Pulse from Natan Ponieman

March 04, 2024 | 10:05 pm

BYD Co, a leading Chinese EV manufacturer, has cut the price of its new Yuan Plus version by 12% to compete in China's intense EV market. This move is part of a broader strategy to attract customers amid a cooling market, where rivals like Tesla have also reduced prices. BYD's price cut reflects its aggressive approach to maintaining a competitive edge in the world's largest automobile market.

Portfolio Pulse from Anan Ashraf

March 04, 2024 | 9:04 am

BYD Co Ltd, backed by Warren Buffett's Berkshire Hathaway, reported a 37% year-over-year drop in sales volume for February 2024, selling 122,311 new energy vehicles. This marks a significant change as BYD had been experiencing sales growth throughout 2023 and even in January 2024. The company, which ceased production of oil-fueled vehicles in April 2022, sold 54,908 battery electric vehicles (BEVs) in February, nearly 39% lower than the previous year and 48% down from January 2024. In Q4 2023, BYD surpassed Tesla as the biggest BEV seller.

Portfolio Pulse from Anan Ashraf

March 02, 2024 | 8:28 am

Former Ford CEO Mark Fields advocates for a short-term ban on Chinese automakers entering the U.S. market, citing unfair advantages due to government incentives. He suggests this measure to protect U.S. automakers, particularly the Detroit Big Three, from the economic impact similar to past industries like aluminum and steel. Fields' views echo broader concerns about the U.S. auto industry's survival against Chinese competition. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) recently saw a decrease in value.

Portfolio Pulse from Shanthi Rexaline

February 29, 2024 | 9:26 am

BYD Co Ltd showcased its Yangwang U8 SUV, capable of floating and performing a tank turn, at the Geneva International Motor Show. This marks its debut in Europe, following the launch of the dancing U9 supercar in China. The U8 SUV, a luxury plug-in hybrid, boasts 1,200 horsepower and can accelerate from 0-60 mph in 3.6 seconds. It has delivered 3,653 units in China as of January. BYD, which surpassed Tesla in BEV sales in the last quarter of 2023, is exploring the European market but has no immediate plans to enter the U.S. market.

Portfolio Pulse from Anan Ashraf

February 28, 2024 | 4:21 am

BYD Co Limited refutes the EU's allegations that Chinese car companies' success is due to state aid, attributing it instead to their early investment in technology and efficient management. Despite the EU's investigation into subsidies and potential for increased tariffs, BYD is confident and prepared to stabilize prices. The company, backed by Warren Buffett's Berkshire Hathway, is expanding in Europe with plans to increase its EV factory capacity in Hungary.

Portfolio Pulse from Benzinga Neuro

February 27, 2024 | 11:33 am

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.