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BYD Company: 10 Things to Know About the Chinese EV Stock

Shares of BYD Company (OCTMKTS:BYDDF) are up on Wednesday morning after the firm reported its October delivery figures.

A close-up view of the power supply plugged into a vehicle from BYD Company (BYDDF).

Source: J. Lekavicius / Shutterstock.com

BYD Company is a China-based vehicle maker that mainly focuses on manufacturing automobiles. Moreover, the company also has its hand in other areas of tech including batteries and solar panels.

That said, BYD Company reported that it sold 23,217 new energy vehicles (NEVs) during the month of October — an 84.8% increase from the same time last year. However, year-to-date NEV sales are down 34.6% year-over-year, and overall vehicle sales are about 16% lower YOY.

Overall, this report looks strong next to other China-based vehicle manufacturers. For example, Nio (NYSE:NIO) announced strong October delivery figures. As did its counterparts Xpeng (NYSE:XPEV) and Li Auto (NASDAQ:LI) in the past week.

Now, though, let’s take a closer look at BYD Company as a whole:

  • The firm is backed by financial mogul Warren Buffett.
  • BYD Company reported third-quarter earnings for fiscal year 2020 on Oct. 30.
  • The robust results boosted BYDDF stock more than 9% on Nov. 2 in reaction to the figures.
  • The company also received major interest in its Han model at an auto show in Beijing in late September.
  • In fact, at the event, BYD Company announced that it received more than 40,000 orders for the vehicle in just two months.
  • The Han has a single-charge range of 605 kilometers (376 miles), and comes in four different types.
  • It will be sold in China first, and will be available for between 229,900 yuan and 279,500 yuan ($32,800-$40,000).

BYDDF stock was up 1.6% as of Wednesday morning.

On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Nick Clarkson is a Web Editor at InvestorPlace.


Article printed from InvestorPlace Media, https://investorplace.com/2020/11/byd-company-10-things-to-know-about-the-chinese-ev-stock/.

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