To The Moon

BYD is not only the largest NEV maker in China, but also one of the largest battery makers in the world.

The Updates below are extracted from CNEVPost:

BYD posts over 400% year-on-year Q1 profit growth-CnEVPost

BYD reported revenue of RMB 120.17 billion in the first quarter, up 79.83 percent year-on-year, although it was 23.15 percent lower than in the fourth quarter of last year.

BYD's net profit for the quarter was RMB 4.13 billion, up 410.89 percent year-on-year, although it was 43.5 percent lower than in the fourth quarter of last year. After excluding non-recurring gains and losses, BYD's net profit in the first quarter was RMB 3.57 billion, up 593.68 percent year-on-year.

It reported basic earnings per share of RMB 1.42 in the first quarter, up 407.14 percent year-on-year. BYD's costs grew in line with sales growth, with operating costs for the quarter at RMB 98.71 billion, up 68.62 percent year-on-year. Its selling expenses for the quarter were RMB 4.65 billion, up 234.96 percent year-on-year, and R&D expenses were RMB 6.24 billion, up 164.24 percent year-on-year.

BYD applies for dual counter trading on Hong Kong exchange

BYD applies for dual counter trading on Hong Kong exchange-CnEVPost

The dual-currency counter model will provide BYD shareholders and potential investors with a new trading currency option that could further enhance the liquidity of its shares, BYD said.

BYD officially launches Seagull to expand its presence in China's EV market

BYD officially launches Seagull to expand its presence in China's EV market-CnEVPost

BYD has officially launched the Seagull with a starting price of just RMB 73,800, after starting pre-sales of the Yangwang U8, which costs over RMB 1 million, last week.

BYD aims to sell at least 3 million vehicles this year and will strive to reach 3.6 million, the company's chairman and president Wang Chuanfu said at an investor conference late last month. BYD aims to become the No. 1 automaker in China by the end of this year, Wang said at the time.

The Seagull is expected to be another hot seller in the Chinese EV market, judging by its pre-sale performance.

Denza says N7 SUV gets 10,569 pre-orders in 7 days

Denza says N7 SUV gets 10,569 pre-orders in 7 days-CnEVPost

Denza has yet to announce the price of the N7, though it is expected to target the RMB 400,000 market.

CATL, BYD's sodium-ion batteries both to be in mass production within this year, report says

CATL and BYD's sodium-ion batteries to be put into mass production will both be a mix of sodium-ion and lithium-ion batteries, according to local media.

BYD's sodium-ion battery will also be in mass production in the second half of the year, and the first model to carry the battery will be the Seagull, the report said, citing a BYD source.

The battery will also be a hybrid sodium-ion and lithium-ion battery, according to the report. Sodium-ion batteries cost less, but currently have low energy density.

BYD secures preferential prices for lithium battery raw materials in Chile

BYD's project in Chile is designed to produce 50,000 tons of lithium iron phosphate cathode material per year, with an estimated investment of at least $290 million.

BYD, China's largest maker of new energy vehicles (NEVs), is also one of the largest manufacturers of power batteries. BYD's power battery installed base in China in March was 7.40 GWh, ranking second with a 26.65 percent share, according to data released earlier this month by the China Automotive Battery Innovation Alliance (CABIA). CATL's power battery installed base in March was 12.49 GWh, continuing to rank first with a 44.95 percent share.

BYD unveils Song L concept SUV, Chaser 07 hybrid sedan at Shanghai auto show

BYD unveils Song L concept SUV, Chaser 07 hybrid sedan at Shanghai auto show-CnEVPost

Song L combines BYD's pioneering technology for young users who are looking for a stylish and sporty car, the company said.

Song L is based on BYD's e-Platform 3.0 and will have CTB (cell-to-body) technology, and intelligent electric four-wheel drive. The model will have an electric rear wing, and electronic mirrors, giving it a more pronounced sporty character.

BYD Yangwang begins pre-sale of U8 off-road SUV at USD$160,000

BYD Yangwang begins pre-sale of U8 off-road SUV at $160,000-CnEVPost

Yangwang U8 is offered in two versions, both priced at RMB 1,098,000, with deliveries set to begin in September.

The Yangwang U8 has a maximum power output of over 1,100 horsepower and takes 3.6 seconds to accelerate from 0 to 100 km/h. The vehicle has a pure electric range of 180 km on CLTC standard. The car supports fast charging, taking 18 minutes to go from 30 percent to 80 percent. It is equipped with an external discharge function with a maximum discharge power of 6 kW. The vehicle has a wheelbase of 3,050 mm and is equipped with BYD's technologies including e⁴, DiSus-P and blade battery.

My investing muse

BYD continues to roll out new product lines, extending products and solutions at different price points to cater to different demographics. From lower costs models like the Seagull to mid range like Song L and the premium series of Yangwang, BYD is offering a range of solutions at different price points.

On top of this, they are also making innovative progress with the next generation of sodium-ion batteries. This should be able to drive down the costs of batteries and thus, we can expect BYD to remain costs competitive moving forward. On top of this, BYD has secured a supply chain upstream with lithium-ion mineral contracts in Chile. This would be able to bring down the costs of batteries too in the coming years.

While we had good earnings and revenue from BYD, let us also take caution against a recession that threatened the global economy. Let us research before we invest.

@TigerStars

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