Streetbeat News

GELYF

Geely Automobile Holdings Ltd.

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

CEO

Sheng Yue Gui

Industry

Automobile Manufacturing

Open

2.22

Mkt cap

23B

Volume

700

High

2.28

P/E Ratio

12.00

52-wk high

2.45

Low

2.20

Div yield

0.01

52-wk low

0.95

Chinese EV stocks, including NIO, XPeng, Li Auto, and Lucid Motors, rose after China criticized EU tariffs and pledged industry support. The EU imposed additional tariffs on BEV imports but reduced duties for major automakers like Tesla. China's stimulus plans and trade-in programs are boosting EV sales.

Portfolio Pulse from Anusuya Lahiri

August 21, 2024 | 4:23 pm

The European Union has reduced tariffs on Tesla's China-made electric vehicles to 9%, significantly lower than those for other Chinese automakers like SAIC, Geely, and BYD. This move could give Tesla a competitive advantage in the European market amid ongoing trade tensions.

Portfolio Pulse from Benzinga Neuro

August 21, 2024 | 9:14 am

Germany and China are negotiating to prevent a tariff war on electric vehicles (EVs) that could impact carmakers in both regions. The EU's proposed tariffs on Chinese EVs could lead to retaliatory tariffs from China on EU-made cars, affecting luxury German brands. The U.S. has also increased tariffs on Chinese EVs, benefiting domestic carmakers.

Portfolio Pulse from Natan Ponieman

June 24, 2024 | 7:46 pm

Geely Auto and STMicroelectronics have signed a long-term partnership to enhance the efficiency of Geely's battery electric vehicles using ST's third-generation SiC MOSFETs. An Innovation Joint Lab will be established to support the development of smart, electrified, and connected cars.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 5:30 am

Zeekr Intelligent Technology Holding Limited (NYSE:ZK) experienced a strong market debut on the NYSE, with its stock price rising in premarket trading on Monday after a significant gain on Friday. The company, backed by Geely Automobile Holdings Limited (OTC:GELYF), offered 21,000,000 ADRs at $21 each, reaching a valuation of $64.03 billion by Friday's close. The stock opened at $26 per ADS and closed at $28.26, a 34.57% increase. Premarket trading saw a further 3.86% rise to $29.35. Zeekr plans to use the IPO proceeds for BEV technology development, marketing, service and charging network expansion, and general corporate purposes. The debut coincides with potential tariff increases on Chinese EV imports by the Biden administration.

Portfolio Pulse from Shanthi Rexaline

May 13, 2024 | 11:29 am

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

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