Streetbeat News

GELYF

Geely Automobile Holdings Ltd.

http://www.geelyauto.com.hk/

CEO

Sheng Yue Gui

Industry

Automobile Manufacturing

Open

1.85

Mkt cap

19B

Volume

550

High

1.85

P/E Ratio

9.25

52-wk high

1.96

Low

1.85

Div yield

0.02

52-wk low

0.91

Mixed sentiment in the EV sector was influenced by Tesla's lowered delivery estimates and broader market concerns. Tesla faces challenges but sees opportunities in India with new EV policies. Fisker's bankruptcy rumors caused a significant stock drop. Rivian received a positive upgrade from Piper Sandler. Polestar announced a price cut for its upcoming SUV. The KraneShares Electric Vehicles ETF saw a slight increase.

Portfolio Pulse from Shanthi Rexaline

March 16, 2024 | 2:42 pm

This week in the EV sector, bearish sentiment surrounded Tesla, with its stock underperforming due to a double miss in Q3 2023 earnings and price adjustments. Rivian and Lucid faced production challenges and disappointing earnings, while Ford paused F-150 Lightning shipments. Nio is testing humanoid robots for production efficiency, and Volvo plans to cut its stake in Polestar. The KraneShares Electric Vehicles ETF saw a slight decline.

Portfolio Pulse from Shanthi Rexaline

February 24, 2024 | 3:17 pm

Nvidia Corp. (NASDAQ:NVDA) reported a 4% year-over-year decline in automotive revenue, raising concerns about the adoption of self-driving technology in EVs. Despite this, Nvidia's Automotive segment reached a $1 billion annual revenue run-rate in FY2024. The decline is seen as a leading indicator for the adoption pace of self-driving tech, which faces safety and regulatory hurdles. Nvidia supplies self-driving chips to several Chinese automakers and Tesla, which is working to reduce reliance on Nvidia by developing its own supercomputer, Dojo. The KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:KARS) saw a slight increase, indicating broader EV market optimism.

Portfolio Pulse from Shanthi Rexaline

February 22, 2024 | 8:04 am

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) may soon welcome Geely Sweden Holding, a subsidiary of Geely Holding Group, as a new shareholder. This potential shift in ownership is under evaluation by Volvo Cars, which could redistribute shares to its shareholders, making Geely Sweden Holding a primary recipient. Volvo Cars will continue its strategic partnership with Polestar in R&D, manufacturing, and other areas. Amid market challenges and competition, Polestar remains optimistic about its sales outlook for 2024. Bernstein analyst Daniel Roeska has suggested that Polestar might benefit from going private. Geely's EV arm, Zeekr, plans to double car deliveries in 2024, indicating a strategic alignment with Polestar's focus on electric performance cars.

Portfolio Pulse from Benzinga Neuro

February 01, 2024 | 7:30 am

Tesla, Inc. (TSLA) has outperformed legacy automakers in U.S. sales growth over the past eight years, despite a general industry slowdown. Elon Musk praised his team in response to a Tesla influencer's post showing Tesla's U.S. sales increase by 632,088 units from 2015 to 2018. Legacy automakers like GM, Ford, and Stellantis reported sales declines, while Hyundai, Kia, Volkswagen, Geely, Subaru, and Mazda saw growth. Tesla's Q4 deliveries hit a record 484,507 units, with annual deliveries of 1.81 million. Tesla's production efficiency, diversified bases, and product appeal contribute to its success, while legacy automakers scale back EV ambitions. BYD has recently surpassed Tesla in battery EV manufacturing. Tesla's stock closed down 2.87% at $227.22.

Portfolio Pulse from Shanthi Rexaline

January 12, 2024 | 6:42 am

Geely Automobile Holding Ltd's EV exports face potential delays and cost increases due to hostilities in the Red Sea, prompting shippers to reroute around the Cape of Good Hope instead of the Suez Canal. This could lead to quintupled shipping costs and a vessel shortage. China's vehicle exports to Europe have surged, causing EU regulatory concerns. Stellantis N.V. is monitoring the situation to adapt its strategy.

Portfolio Pulse from Shivani Kumaresan

December 22, 2023 | 1:09 pm

Zeekr, the premium EV brand of Chinese automaker Geely (OTC:GELYF), has launched its own rapid-charge lithium iron phosphate batteries, which can charge to deliver a 500 km range in just 15 minutes. The technology will debut in the upcoming 007 sedan. This development is part of a broader trend among Chinese EV manufacturers, like Nio Inc (NYSE:NIO) and Li Auto Inc (NASDAQ:LI), to advance their battery technologies. Nio is considering spinning off its battery unit, while CATL's fast-charging batteries are used in Li Auto's vehicles. Geely's shares (OTC:GELYY) fell by 0.98% to $20.66.

Portfolio Pulse from Shivani Kumaresan

December 15, 2023 | 5:17 pm

Zeekr, the premium EV brand of Geely Automobile Holdings Ltd, has postponed its U.S. IPO due to market instability and valuation concerns. Despite the postponement, Zeekr has filed with the SEC and is continuing preparatory work. The company reported an increased operational loss in its recent filings and has delivered over 92,000 vehicles since the start of the year.

Portfolio Pulse from Anan Ashraf

November 30, 2023 | 1:02 pm

Geely Automobile Holdings Ltd. (GELYF) has launched its electric vehicles in Malaysia, competing with Tesla (TSLA) and BYD (BYDDF). Geely introduced three models with prices ranging from $40,640 to $60,640, while Tesla's Model 3 and BYD's Atto are priced at $40,640 and $31,840 respectively in Malaysia. Pro-Net, partly owned by Geely, will distribute the Smart cars and aims for a 10% market share. Geely is also investing in an automotive city in Tanjung Malim. Mercedes Benz Group AG (MBGAF) has started local assembly of its EQS model in Malaysia. Geely's shares closed down 2.44% at $1.20.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 5:08 pm

Zhejiang Geely Holding Group Co. and Baidu Inc have launched the Jiyue 01, an electric vehicle (EV) from their joint venture. The vehicle is priced below Tesla's starting price and uses a pure vision system for driver assistance, similar to Tesla. However, Tesla's full self-driving (FSD) software is currently inaccessible in China, creating a market gap that Jiyue and other players like XPeng are looking to fill.

Portfolio Pulse from Benzinga Neuro

October 28, 2023 | 9:38 am

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