Streetbeat News

GELYY

Geely Automobile Holdings Ltd.

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

CEO

Sheng Yue Gui

Open

33.00

Mkt cap

17B

Volume

High

33.07

P/E Ratio

8.55

52-wk high

39.02

Low

32.80

Div yield

0.02

52-wk low

18.48

Geely Automobile (GELYY) has been upgraded to a Zacks Rank #2 (Buy), indicating increased optimism about its earnings prospects, which could drive the stock higher in the near term.

Portfolio Pulse from

November 19, 2024 | 6:15 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

Zeekr, a luxury EV brand under Geely, is considering manufacturing in Europe to avoid EU tariffs. The company aims to use existing Geely facilities in Europe and is also exploring local manufacturing in other regions. Zeekr's stock has declined since its U.S. IPO, but the company remains optimistic about profitability and is expanding globally.

Portfolio Pulse from Shivani Kumaresan

July 19, 2024 | 4:32 pm

Geely Automobile Holdings Ltd (OTC:GELYY) plans to introduce its premium electric vehicle (EV) brand, Zeekr (NYSE:ZK), to South Korea by 2026. The company aims to open showrooms in Seoul and Gyeonggi province by the end of next year, with the first model, Zeekr 001, expected to be delivered in early 2026. Geely faces challenges due to South Korea's new rule favoring EVs with higher recycled metal content. Geely has also partnered with Korea's SK Group and Posco International Inc. for battery development and sales. GELYY shares closed higher by 2.67% at $22.66 on Wednesday.

Portfolio Pulse from Shivani Kumaresan

July 05, 2024 | 3:02 pm

Stellantis NV (NYSE:STLA) shares are trading lower premarket on Friday due to new EU tariffs on electric vehicles. The company is considering relocating some Leapmotor model production from China to Europe to mitigate increased import costs. The EU has imposed additional tariffs on several automakers, including BYD Company and SAIC Motor Corp, following a probe into state subsidies. Stellantis confirmed its 2024 guidance of double-digit AOI margin and a capital return plan of at least 7.7 billion euros.

Portfolio Pulse from Shivani Kumaresan

June 14, 2024 | 1:38 pm

Volvo Car AB is shifting its electric vehicle production from China to Belgium due to potential EU tariffs on China-manufactured EVs. The move affects the EX30 and EX90 models and some U.K.-bound models. The EU is expected to announce provisional tariffs soon, which could increase import duties above the current 10% level.

Portfolio Pulse from Shivani Kumaresan

June 10, 2024 | 3:22 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

China is set to allocate over $830 million to advance solid-state battery technology, benefiting key suppliers like Tesla's CATL and Nio-backed WeLion. This investment aims to enhance safety, lifespan, and charging speed of batteries, potentially unlocking a multi-trillion yuan market.

Portfolio Pulse from Anan Ashraf

May 29, 2024 | 12:15 pm

Zeekr Intelligent Technology Holding Limited (NYSE:ZK) priced its U.S. IPO at $21 per share, at the top end of its estimated range, with shares to begin trading on May 10, 2024. The offering is expected to close on May 14, 2024, potentially raising up to $507.2 million if the underwriters' over-allotment option is fully exercised. Strategic investors including Geely Automobile Holding (OTC:GELYY), Contemporary Amperex Technology, and Mobileye Global Inc (NASDAQ:MBLY) accounted for $300 million of the IPO. Despite a strong demand for Zeekr's IPO, analysts are skeptical about an imminent surge of Chinese listings in New York.

Portfolio Pulse from Shivani Kumaresan

May 10, 2024 | 10:52 am

Polestar Automotive Holding UK Limited (NASDAQ:PSNY) is expanding production outside China due to tariff concerns and geopolitical tensions. CEO Thomas Ingenlath plans to increase exports of the Polestar 3 from South Carolina to the EU. This move comes as Chinese EV companies face scrutiny in Europe and the U.S. over state subsidies. After a major ownership restructuring, with Geely Automobile Holding (OTC:GELYY) and a private firm now holding a 69% stake, Polestar aims for a global sales distribution targeting 155,000 to 165,000 cars by 2025. PSNY shares dropped 3.94% to $1.23.

Portfolio Pulse from Shivani Kumaresan

April 24, 2024 | 5:31 pm

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