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 manufacturer BYD Company (OTC:BYDDY) is planning to enter the Canadian market amidst potential tariffs on Chinese-imported vehicles. Canada is considering tariffs similar to those in the US and EU to counter China's subsidies to its EV industry. BYD's plans include introducing passenger electric vehicles in Canada.

Portfolio Pulse from Shivani Kumaresan

July 31, 2024 | 5:19 pm

Nissan has significantly reduced production at its Kyushu plant in Japan due to falling demand in the U.S. market. The company is struggling with high inventory levels and a lack of hybrid models, which has led to missed opportunities in the growing hybrid vehicle market. This follows a period of poor financial performance and a reduction in its full-year outlook.

Portfolio Pulse from Benzinga Neuro

July 29, 2024 | 12:24 pm

The rapid increase in new energy vehicles (NEVs) in China has led to financial challenges for insurers, who are struggling to turn a profit despite higher premiums. Factors such as higher loss ratios, expensive battery repairs, and increased mileage in ride-hailing contribute to the issue. The National Financial Regulatory Administration (NFRA) is considering reforms to allow more flexible premium settings.

Portfolio Pulse from Benzinga Neuro

July 29, 2024 | 1:56 am

BYD Company (OTC:BYDDY) has secured its first order for electric buses in South Africa, partnering with Golden Arrow to supply 120 electric buses. This move aims to electrify South Africa's public transportation network. BYD plans to start delivering the buses in December 2023 and complete the order by the end of 2025. The company has seen a significant increase in NEV sales, although its shares are currently trading lower by 2.60%.

Portfolio Pulse from Shivani Kumaresan

July 25, 2024 | 5:45 pm

Honda Motor Co. (NYSE:HMC) will reduce its gasoline vehicle production in China by 19% starting in October, as part of a strategic shift towards electric vehicles. This includes ceasing operations at two major facilities. The move comes amid stiff competition from companies like BYD and Tesla. Honda's shares closed 3.17% lower following the announcement.

Portfolio Pulse from Shivani Kumaresan

July 25, 2024 | 2:28 pm

Tesla Inc (NASDAQ:TSLA) reported disappointing Q2 results, missing earnings expectations and causing an 8% drop in premarket trading. This decline also affected shares of Rivian Automotive Inc (NASDAQ:RIVN), Lucid Group Inc (NASDAQ:LCID), Nio Inc (NYSE:NIO), and XPeng Inc (NYSE:XPEV). Tesla's automotive revenue dropped 7% YoY, and adjusted income plummeted 43% YoY. Despite remaining the top EV seller in the U.S., Tesla is losing market share to rivals. CEO Elon Musk announced plans for an affordable EV by 2025 and delayed the robotaxi details release to October 10th.

Portfolio Pulse from Upwallstreet

July 24, 2024 | 3:17 pm

BYD Company (OTC:BYDDY) is poised to surpass Tesla Inc. (NASDAQ:TSLA) in annual electric vehicle sales in 2024 due to growing demand in China, while demand in the U.S. and Europe wanes. Tesla reported its fourth consecutive quarter of disappointing profits and warned of a lower growth rate in 2024. Legacy automakers like General Motors Co. (NYSE:GM) and Ford Motor Co. (NYSE:F) may benefit from sustained profits in internal combustion engines and hybrids.

Portfolio Pulse from Shivani Kumaresan

July 24, 2024 | 2:00 pm

BYD Co., Ltd. (OTC:BYDDY) is set to debut two new models of its Song family, the 2025 Song Plus DM-i and Song L DM-i SUVs, featuring the latest DM 5.0 hybrid system on July 25. The company has seen significant sales growth in its new energy vehicles (NEVs), with the Song family leading the sales.

Portfolio Pulse from Nabaparna Bhattacharya

July 23, 2024 | 5:36 pm

Berkshire Hathaway has reduced its stake in BYD Company to below 5%, indicating a shift in focus towards U.S. investments. This move follows a gradual reduction in BYD holdings since August 2022. Berkshire also sold its entire stake in Taiwan Semiconductor Manufacturing Company earlier this year.

Portfolio Pulse from Shivani Kumaresan

July 23, 2024 | 11:32 am

BYD Company (OTC:BYDDY) has recruited former Baidu Inc (NASDAQ:BIDU) executive Zhou Peng to lead its driver assistance technology development. Zhou Peng's expertise is expected to enhance BYD's smart driving capabilities, particularly through the Xuanji Architecture. BYD aims to extend high-level smart driving features to more models and plans to invest RMB 100 billion in intelligence. BYDDY shares are trading higher by 1.42% at $62.05.

Portfolio Pulse from Shivani Kumaresan

July 22, 2024 | 4:59 pm

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