Tesla Eyes Early Entry With Robotaxi Event On Horizon; BYD In Buy Zone As Sales Boom

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Tesla Eyes Early Entry With Robotaxi Event On Horizon; BYD In Buy Zone As Sales Boom

Blockhead09-16

Tesla (TSLA) and BYD (BYDDF) are the world's largest electric-vehicle makers. In 2022, China EV and battery giant BYD's vehicle sales raced ahead of Tesla's and are now well more than twice as high. ...

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color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Eyes Early Entry With Robotaxi Event On Horizon; BYD In Buy Zone As Sales Boom\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-16 05:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/news/tesla-vs-byd-ev-sales-robotaxis/><strong>Blockhead</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla (TSLA) and BYD (BYDDF) are the world's largest electric-vehicle makers.\nIn 2022, China EV and battery giant BYD's vehicle sales raced ahead of Tesla's and are now well more than twice as high. ...</p>\n\n<a href=\"https://www.investors.com/news/tesla-vs-byd-ev-sales-robotaxis/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BYD","symbol_name":"博伊德赌场","start_time":0,"source_url":"https://www.investors.com/news/tesla-vs-byd-ev-sales-robotaxis/","article_id":"2467830152","we_media_id":null,"thumbnails":["https://www.investors.com/wp-content/uploads/2024/09/wTESLAvsBYDSls090324-640x360.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2467830152","pubTimestamp":1726436518,"sourceInfo":{"source_id":"investor_business_daily_highlight","name":"Investor’s Business Daily"},"weMediaInfo":null,"summary":"Tesla is close to an early entry as the robotaxi event nears. BYD is in a buy zone as sales boom amid a flurry of new models and a new hybrid system.","collect":0,"end_time":0,"defaultTopTitle":"investors.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BYD":"博伊德赌场","TSLA":"特斯拉","TSLL":"Direxion Daily TSLA Bull 2X Shares"},"translate_title":"特斯拉着眼于机器人出租车活动的早期参与；比亚迪销量火爆进入买入区","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BYD":1,"TSLA":1,"TSLL":1},"content_text":"Tesla (TSLA) and BYD (BYDDF) are the world's largest electric-vehicle makers.\nIn 2022, China EV and battery giant BYD's vehicle sales raced ahead of Tesla's and are now well more than twice as high. For all-battery electric vehicles (BEVs), BYD seized the crown in Q4 2023. However Tesla has regained that title in 2024.\n\n\n\n↑\nX\n\n\n\n\nNvidia Earnings Are A Key Test For The Stock Market Rally. Here's What To Expect.\n\n\nSee All Videos\n\n\n\n\nNOW PLAYING\nNvidia Earnings Are A Key Test For The Stock Market Rally. Here's What To Expect.\n\n\n\n\nTesla earnings have tumbled for several quarters, missing lowered views most of the time. CEO Elon Musk is placing more emphasis on robotaxis and robots, but pushed back on timelines somewhat on the Q2 earnings call.\nTesla has relied on price cuts since late 2022 to offset weaker demand due to an aging lineup and rising competition. New \"affordable\" EVs may be coming, but they may be variants of existing models.\nBYD has also cut prices, but margins remain high. Sales are rising thanks to a next-generation hybrid system and a variety of new and refreshed models, with several more coming in the next few weeks. It just opened its first full assembly plant outside of China, in Thailand, with several more overseas plants coming.\nTesla stock round-tripped a huge gain amid the Q2 earnings miss, but is near an aggressive entry.  BYD stock, the only EV maker with shares up in 2024, is holding in a buy zone.\nLet's take a look at BYD vs. Tesla, as well as BYDDF stock vs. TSLA stock.\nTesla Vs. BYD Sales\nTesla delivered 443,956 EVs in Q2, beating lowered estimates. That was up sharply from Q1's 386,810 vehicles but down from Q2 2023's 466,140.\nAlong with delivery numbers, Tesla reported record energy storage it deployed in Q2.\nBYD announced record Q2 sales of 986,720, up 58% vs. a year earlier and 40% vs. Q1's 626,236 EVs. It's also double Tesla's Q2 total.\nHowever, all Tesla vehicles are BEVs, while more than half of BYD sales are plug-in hybrids now. BYD delivered 426,039 passenger BEVs in Q2.\nBYD sold a record 373,083 vehicles in August, up 36% vs. a year earlier and 9% vs. July's 342,383.\nOf the 370,854 passenger EVs, BYD sold 222,384 PHEVs, a sixth straight record high and up 73.1% vs. a year earlier and 5.5% vs. July. BEV sales came in at 148,470, up 1.95% vs. a year earlier and 14.2% vs. July.\nBYD may still be production constrained as it races to meet demand, especially for its newer hybrids. Output was 366,973, below sales once again, with some evidence that official sales were below actual deliveries.\nOverseas sales were 31,451, up 25.7% vs. a year earlier and 4.8% vs. July.\nCommercial vehicles, including buses, delivery trucks and more, shot up to 2,229, up 643% vs. a year earlier and 40.7% vs. July.\nSo far in 2024, BYD has sold 2,328,449 vehicles. It looks set to easily pass the company's official target of 3.6 million EVs, and might reach an unofficial goal of four million.\nTesla, BYD Price Cuts\nTesla has slashed prices worldwide starting in late 2022. The EV giant has had to keep cutting prices or boost other incentives to prop up sales, slashing once-mighty profit margins and earnings. Deliveries have fallen vs. a year earlier so far in 2024.\nEarlier in 2024, BYD slashed prices on most of its largely refreshed models, helping to revive sales.\nTesla Models\nTesla produces the Model 3, the Model Y, Model X and Model S, as well as the Semi and Cybertruck. The Model Y crossover accounts for the majority of sales.\nA Model 3 revamp didn't provide much of a sales boost in China and Europe and has been lackluster in the U.S.\nThe Cybertruck has been produced in relatively low volume, in part due to quality issues, though output is improving. The Cybertruck, which probably is not profitable yet, is likely to be largely a North American vehicle.\nTesla has been selling the Foundation series Cybertruck, which starts at $100,000. Many more are waiting for regular variants at $80,000 or lower.\nTesla has delivered a few dozen Semi vehicles to PepsiCo (PEP). By May 2024, a few more customers, including Walmart (WMT), had taken possession of at least one Tesla Semi. But it's still unclear what the specs and price for the EV big rig are. Tesla recently said it expected mass production in 2026, but Semi timelines have often slipped by years.\nTesla 'Affordable Vehicles' And Robotaxi\nThe EV giant this year ditched long-touted plans for a \"next-generation\" EV and \"revolutionary\" manufacturing. Tesla now plans \"affordable vehicles,\" using existing production lines. On the Q2 call, Musk said output would start in the first half of 2025, vs. late 2024 or early 2025 on the Q1 call. That would suggest mass production and deliveries would start in late 2025 or beyond.\nThe speculation is that Tesla will produce a lower-cost variant of the Model 3 or Model Y, perhaps a hatchback. IRA-compliant batteries would be key for such a vehicle in the U.S. But it's unclear how a low-end Model 3 might fare elsewhere, especially in China.\nTesla still hasn't even shown images for the upcoming vehicles.\nMeanwhile, Elon Musk has made a stronger push for robotaxis. A robotaxi event will take place on Oct. 10 vs. the initial date of Aug. 8.\nThe speculation is that Tesla will unveil a prototype with no steering wheel. But Tesla's Full Self-Driving, despite its name, remains a Level 2 system that requires a human driver. Without actual self-driving, an EV with no steering wheel isn't going anywhere.\nThe Model Y is expected to get a refresh in early 2025. Like the Model S, X and 3 updates — which didn't boost sales much — the \"Juniper\" Y likely will have cosmetic exterior changes.\nBYD Expansion\nBYD sells BEVs and PHEVs from around $10,000 to $150,000, with a wide range of models. It's refreshing much of its lineup, while adding several new models. That includes new models for its premium Denza, FangChengBao and Yangwang brands.\nIt's unveiling several new models with driver-assist systems, faster charging and improved hybrid systems.\nThe recently launched fifth-generation hybrid system offers touted 2,100 kilometers (1,305 miles) in combined battery-and-gas range.\nThe system is being rolled out to a variety of updated and new models, fueling booming orders.\nSeveral more all-new or refreshed BEV and PHEV models are coming out in the next several weeks.\nBYD also is expanding rapidly overseas. Exports are a modest share of overall sales, but growing rapidly as logistics improve. They also carry better margins.\nBYD's brand-new Thailand plant, its first full-assembly plant outside of China, will begin deliveries in August.\nA Brazil factory is due to fully open in early 2025. The EV giant also has plans to build factories in Hungary, Indonesia, Turkey, Cambodia and Pakistan.\nTurkey has a customs union with the EU. That, along with the Hungary plant, will be two factories for Europe. The Cambodia and Pakistan plants will likely be knock-down plants, putting together cars that are partially assembled elsewhere, as in a recently opened site in Uzbekistan.\nThe EV giant also is closing to choosing a Mexico site and may set up in Vietnam as well.\nBYD makes EV buses in California, but says it has no plans to enter the U.S. passenger EV market, amid import tariffs and political opposition. However, Trump has said he wants Chinese EV makers to build cars in the U.S.\nTesla Vs. BYD Batteries\nTesla traditionally has not mass produced its own batteries. For lithium-ion batteries, its joint venture partner Panasonic makes the cells and Tesla packages them. It also buys lithium-ion batteries from South Korea's LG. Tesla also buys a lot of lithium iron phosphate (LFP) batteries from China's CATL as well as some LFP batteries from BYD.\nTesla is working on 4680 batteries, first touted at the 2020 Battery Day. The 4680 batteries are standard lithium-ion chemistry, but the larger form factor offers the potential for various benefits and cost savings. Tesla's 4680 production has picked up output in recent months.\nTesla has hinted at progress on the \"dry cathode\" problem, but it hasn't stated definitively that it's solved mass-production issues. It appears that the 4680 battery density is only now reaching that of traditional 2170 cells.\nIf nothing else, the focus on the 4680 batteries meant that Tesla did not focus on expanding production or sourcing of traditional 2170 cells that would comply with IRA tax credit rules.\nTesla is a major battery storage provider, though it gets its batteries from CATL.\n\nBYD, meanwhile, is one of the world's largest EV battery makers. Its Blade batteries are a specialized form of lithium ferrous phosphate (LFP) or lithium iron phosphate batteries. BYD supplies third-party EV makers, including Xiaomi, XPeng's Mona sub-brand, Nio's Orvo brand and Toyota.\nBYD supplies some EV batteries to Tesla Berlin. It reportedly will be a battery supplier to Tesla's upcoming Shanghai Megapack factory.\nBYD reportedly will unveil a next-generation Blade battery before year-end. That should revive flagging BEV sales in 2025.\nBYD expects solid-state batteries for high-end models by 2027, but not fully reaching lower-end models until 2030-2032.\nBYD is a major battery storage provider.\nTesla's Other Businesses\nTesla has its own Supercharger network in its markets. That's especially important in the U.S. and countries like Australia, where third-party charging facilities are limited.\nTesla has deals with most automakers for access to Superchargers in the U.S. They'll also adopt the charger standard Tesla uses. Those deals, and some related charging subsidies, will boost revenue. But they reduce Tesla's charging moat in the U.S., which encouraged people to buy its EVs.\nTesla also has a solar installation business, but it's been struggling for years.\nTesla's self-driving ambitions continue. Musk is doubling down on FSD as the traditional EV business struggles. However, Tesla recently slashed the FSD prices to $8,000 from $12,000, shortly after halving the FSD subscription price to $99 a month from $199.\nTesla is now starting to offer a three-year bundle, with FSD, free Supercharging and more.\nTesla is moving toward offering FSD in China. But many automakers offer Level 2 systems there, or better.\nTesla also is pursuing a humanoid robot, Optimus, saying he expects it to be a multitrillion dollar business. On the Q2 earnings call, he said Optimus will be doing useful work in Tesla factories by late 2025, pushing back from his Q1 call's estimate of late 2024.\n\"We should be thought of as an AI or robotics company,\" Musk has told investors. \"If somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor.\"\nBYD's Other Businesses\nBYD, notably, makes its own chips. That, along with in-house batteries and other vertical integrations, help make BYD a low-cost EV maker.\nThe EV and battery giant also has solar operations.\nBYD is introducing Level 2 driver-assistance systems in its premium brand models as well as more mainstream BYD brand offerings. BYD is rolling out advanced ADAS for highways for its Denza line, with city streets coming later this year. Those services will likely be introduced in its higher-end BYD-brand EVs in the coming months.\nBYD Co. is largely known for its BYD Auto operations. BYD Electronics, which accounts for an increasingly smaller share of overall revenue, is involved in mostly low-margin businesses such as smartphone components and assembly. But margins are improving there as well.\nIn December 2023, BYD Electronics acquired the mobility business of Jabil (JBL), increasing its exposure to Apple (AAPL).\nEU Hikes Tariffs On Chinese EVs\nThe European Union has started imposing additional tariffs of up to 36.1% provisionally on Chinese BEVs starting July 5. That's on top of the current 10% duties.\nSpecifically, the EU will impose an extra 17% tariff on BYD's BEVs vs. 36.3% for state-owned SAIC. For other automakers, they'll receive an average duty of 21.3% if they cooperate and 36.3% if they do not.\nNotably, the EU reportedly will only impose a 7.8% extra tariff on Tesla's China made-vehicles. Tesla Shanghai exports the Model 3 to the EU. The EV maker in July hiked Model 3 prices in Europe slightly, further weighing on sales there.\nMeanwhile, the new duties don't apply to PHEVs, a big plus for BYD.  Also, BYD's future Hungary and Turkey plants will let it sidestep EU tariffs altogether.\nTesla Earnings\nIn the second quarter, Tesla earnings plunged 43% to 52 cents a share. It was the fourth straight big year-over-year decline and once again missing analyst estimates. Revenue did rise 2% to $25.5 billion after falling in Q1. Tesla relied on $890 million in regulatory credit, a massive increase vs. Q1 and a year earlier.\nGross margins fell to 17.4% vs. 17.6% in Q4 and 19.3% a year earlier.\nAnalysts, who have been slashing Tesla estimates since the end of 2022, now see 2024 EPS sliding 28% to $2.23 a share after skidding 23% to $3.12 in 2023.\nBYD Earnings\nBYD's Q2 earnings rose 32% to 43 cents a share, in line with views. Sales jumped 26% to $24.2 billion, but missed forecasts. Both improved from Q1's pace.\nGross margins fell to 18.7% from Q1's record 21.9%, but are still relatively high. BYD Auto margins are still well above 20%.\nR&D and capital spending costs continue to climb rapidly.\nTesla Stock Technicals\nTesla stock is down 7.3% so far in 2024 as of Sept. 13, according to MarketSmith analysis.\nShares tumbled after the earnings miss and Musk pushing back timelines on affordable vehicles, the Optimus robot and the robotaxis. TSLA stock wiped out a huge 42% run.\n\nAfter bouncing from Aug. 5 lows, Tesla has a 33%-deep base with a 271 buy point. Investors could use the Sept. 5 high of 235 as a too-low handle entry.\nBYD Stock Technicals\n\nBYD stock is up 10.7% in 2024 through Sept. 13.\nShares broke out of a cup-with-handle base on Aug. 30, clearing the 30 buy point.\nBYD, listed in Hong Kong and Shenzhen, trades over the counter in the U.S. Its U.S. shares often have mini-gaps as well as opening trade mini-spikes or tumbles before settling down.\nTesla Vs. BYD Market Cap\nTesla stock has a market cap of $735.7 billion as of Sept. 13, off its peak of about $1.2 trillion. It's far above BYD's $83.6 billion.\nTesla Stock Vs. BYD Stock\nBYD sells far more EVs than Tesla, though the latter still leads in BEVs. More broadly, BYD in many ways is the EV maker Tesla has claimed or aspired to be. BYD makes its own batteries and chips, and sells those batteries to third parties such as Tesla. Musk has talked about making a $25,000 Tesla; BYD makes EVs profitably at far below $25,000.\nThe Tesla Cybertruck is relatively new, but shipments are still low. Musk has said the vehicle would be a financial drain in 2024. It's unclear if yet-unseen upcoming \"affordable\" variants of aging vehicles will have a meaningful impact.\nBYD has entered most of the world outside of the U.S. Its model lineup continues to expand dramatically, with big moves upscale and adding tech to its more-affordable offerings.\nBYD's broad lineup and next-generation hybrid system means it's reaping the benefits of a global shift toward PHEVs over BEVs.\nTesla stock isn't far from an aggressive entry. BYD stock is in a buy zone.\nKeep your eyes on BYD and Tesla, as well as Tesla stock vs. BYD stock.\nPlease follow Ed Carson on X/Twitter at @IBD_ECarson and Threads at @edcarson1971 for stock market updates and more.\nYOU MAY ALSO LIKE:\nWhy This IBD Tool Simplifies The Search For Top Stocks\nFutures: Market Rally Revs Higher But Fed Is On Tap","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"Product Release,Business Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}