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

Tesla Inc (NASDAQ:TSLA) has doubled its market share in China's EV market to 13.2% in August, with sales boosted by lowered prices and increased production at its Shanghai plant. Meanwhile, Chinese EV rivals BYD Company Limited (OTC:BYDDY) and Xpeng Inc (NYSE:XPEV) are expanding to Europe. BYD launched its Seal electric sedan for Europe at the IAA Mobility motor show in Munich, while Xpeng revealed its plans to expand into Germany next year.

Portfolio Pulse from Upwallstreet

September 11, 2023 | 2:57 pm

Tesla's stock has been stuck in a range due to concerns about margin erosion and price cuts. Despite these cuts, volume growth has been elusive in key markets like China and Europe. Future Fund Managing Partner Gary Black highlighted several potential catalysts and risks for the stock, including the launch of new models, regulatory risks, and potential further price cuts.

Portfolio Pulse from Shanthi Rexaline

September 10, 2023 | 3:42 pm

At the Munich Auto Show, Tesla and BYD showcased their EV models, with BYD dethroning Volkswagen as the best-selling EV brand in China. Worksport Ltd announced a partnership with a top-tier solar panel provider to develop its SOLIS solar-powered tonneau cover. Tesla debuted a revamped Model 3 and lowered prices for Model S and Model X in China and the U.S. BYD presented six models at the IAA Mobility Show and announced plans to expand into the European market.

Portfolio Pulse from Upwallstreet

September 07, 2023 | 3:17 pm

The IAA motor show in Munich highlighted the strength of China's EV market, with Tesla unveiling an improved Model 3 and Chinese brands BYD and XPeng showcasing their models. European automakers also revealed their EV plans, with BMW unveiling a concept car for its new EV series, Mercedes-Benz revealing a coupe-style EV, and Volkswagen aiming to halve battery cell costs through its partnerships in China.

Portfolio Pulse from Upwallstreet

September 06, 2023 | 5:11 pm

Chinese EV manufacturer BYD Co Ltd., backed by Warren Buffett, reported an 86% increase in new energy vehicle deliveries for August, including plug-in hybrid and battery-electric vehicles. Battery-electric vehicle (BEV) sales reached 155,967 units in August, up 88% YoY and 11% MoM. Despite BYD's growth, Tesla Inc. continues to lead the Chinese market with a 60% YoY increase in sales, selling about 325,000 units through July. BYD's shares rose 0.4% in overseas trading, and its US-listed ADRs saw a 2.5% increase, while Tesla's stock fell about 2% in early trading Friday.

Portfolio Pulse from Benzinga Neuro

September 02, 2023 | 4:04 am

Tesla Inc (NASDAQ:TSLA) has been reducing its prices in China due to competition, not because it has to, according to Ark Invest founder Cathie Wood. She believes Tesla's strategic position in China allows it to cut prices without significant revenue reductions. Wood also mentioned the competition Tesla faces from manufacturers like Warren Buffett-backed BYD Company ADR (OTC:BYDDY). Tesla's Chinese strategy is a critical part of its global vision, as it transitions to lithium iron phosphate chemistries, further reducing costs.

Portfolio Pulse from AJ Fabino

August 31, 2023 | 8:09 pm

Tesla's market share increased from 16% to 20% in Q2 2023, the biggest expansion among the top seven companies, despite fears of margin pressure due to aggressive price cuts. The company's EV sales rose 83% YoY, outpacing the 50% overall global battery EV sales. However, Tesla's growth trailed the 96% growth of BYD and 111% growth of Geely. Tesla's stock edged up 0.18% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

August 31, 2023 | 12:46 pm

The EV industry is seeing intense competition with Tesla facing rivals on multiple fronts. Ford, BYD, Nio, and XPeng have all responded to Tesla's price war. Worksport, an automotive parts manufacturer, is set to deliver the world's first solar-powered tonneau cover and portable battery system. BYD posted record sales results and acquired the electronics manufacturing business in China owned by Jabil Inc. XPeng has agreed to buy a smart EV development business from DiDi Global and is developing two EVs with Volkswagen. Nio, despite a wider-than-expected Q2 loss, is revamping its products and launching a phone.

Portfolio Pulse from Upwallstreet

August 30, 2023 | 3:38 pm

Chinese EV manufacturers XPeng and BYD have announced strategic acquisitions. XPeng will purchase Didi Global Inc.'s smart-car development business, while BYD's electronics unit will acquire Jabil Inc's mobile electronics manufacturing business in China. BYD also reported record deliveries and a 204.7% rise in profit for the first half of the year. XPeng's shares rose 5.5% in pre-market trading following the announcement.

Portfolio Pulse from Upwallstreet

August 28, 2023 | 2:50 pm

Jabil Inc has reached a preliminary deal with Chinese EV maker BYD Co., Ltd. for the sale of its Mobility business in a potential transaction worth $2.2 billion. The proceeds from this transaction will be used for share buybacks and further investment in various sectors. The deal could see BE further penetrating Apple Inc's casing supply with higher market share. Jabil's shares traded higher by 6.57% at $110.00 premarket on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

August 28, 2023 | 12:49 pm

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