Although the Zacks Foreign Auto industry is unfavorably ranked currently, stocks like BYD Co and Honda are worth keeping an eye on.
India's Reliance Infrastructure is considering plans to manufacture electric cars and batteries, and has hired the former India head at China's BYD Co to advise on its plans, two sources briefed on the matter told Reuters.
Up to 50% of all vehicles bought in Pakistan by 2030 will be electrified in some form in line with global targets, BYD Pakistan, a partnership between China's BYD and Pakistani car group Mega Motors, said.
BYD is rolling out electric-vehicle charging stations and ramping up marketing and customer incentives in Japan, aiming to boost sales in a market that has become a stumbling block in the Chinese automaker's global expansion.
Byd Co. (BYDDY) could produce exceptional returns because of its solid growth attributes.
China's electric automaker BYD said on Tuesday that it has not postponed "any decision" regarding its planned factory in Mexico, denying a report from earlier in the day.
Here is how Byd Co., Ltd. (BYDDY) and Honda Motor (HMC) have performed compared to their sector so far this year.
BYD Co (HKG:1211, LSE:0HKY, OTCQX:BYDDY) has reported record sales over the course of August as hybrid vehicle volume growth overshadowed that of electric models. Some 373,083 vehicles were sold over the month, marking an increase of 36% on the same month a year ago, BYD said in a statement.
Chinese electric car giant BYD sold a record number of passenger vehicles in August, with sales of hybrids growing faster than those of battery-only cars. Li Auto, best known for its range-extender vehicles, reported 48,122 deliveries in August, down from a record 51,000 in July.
BYD's solid 2Q results show revenue up 26% and net profit up 30%, in line with expectations. Market conditions remain challenging, with deteriorating domestic auto demand and intense price competition. Despite stable margins and strong sales, BYD's valuation at 21x 2024 P/E appears stretched, especially if EV growth slows.
China's BYD , will buy Hedin Electric Mobility, the German car distributor's parent company said on Friday, as BYD moves to establish itself as a major electric vehicle maker in Europe.
BYD's strong financial performance in 1H 2024, with a 26.1% net profit increase, reflects its resilience despite a challenging market environment. China's economic stimulus measures and BYD's market share growth present a potential investment opportunity, though risks like geopolitical tensions and EU restrictions persist. BYD's liquidity improvements and reduced borrowings enhance its financial stability, but operational challenges suggest free cash flow recovery may be slow.