BYD (WKN: A0M4W9)-Stock It has fallen in the last few weeks which may be due to Warren Buffett selling and still very high value. In addition, the image of the world economy is currently deteriorating.
1. BYD is investing in a new battery factory
However, the company continues to grow. In Nanning (Guangxi province) is currently starting the construction of a new battery factory. Once completed, it will have an annual capacity of 15 gigawatt hours. The total investment is around 8 billion Chinese Yuan (1.14 billion euros).
BYD currently mainly produces iron-phosphate batteries, most of which it uses for the production of its electric car. The group is the second largest battery manufacturer in China after CATL.
2. Shenzhen New Project
In its fourth industrial park in Shenzhen, BYD has started the construction of a new project worth 20 billion Chinese yuan (2.86 billion euros). It is scheduled to be completed by July 30, 2023, producing components for electric and hybrid vehicles and reaching an annual value of up to 100 billion Chinese yuan.
3. BYD puts the chip production line into operation
A subsidiary of BYD Semiconductor wants to put a new chip production line into operation in October 2022 in Changsha (Hunan province). It has an annual capacity of up to 500,000 vehicle chips.
According to Chinese media reports, on September 5, 2022, BYD Semiconductor in Changsha has completed the installation of the production line and started pre-production. The company imported the most important machinery worth 890 million Chinese Yuan (127.33 million euros).
After the corona crisis, there was a shortage of chips, which now wants to compensate for the larger production.
At the beginning of 2022, BYD established such a plant in Jinan (Shandong province). It can produce up to 360,000 loaves of bread annually.
BYD still owns 72.3% of its subsidiary Chip, which it founded in October 2004.
4. E-sports car under development
Chinese bloggers have posted photos of a new BYD sports car that they say could cost around 2 million Chinese Yuan ($300,000). The group itself has so far only announced the launch of a new premium brand.
Accordingly, he wants to publish the brand and logo in the third quarter of 2022 and present the model of the off-road vehicle in the fourth quarter of 2022. The price should be between 0.8 and 1.5 million Chinese yuan (114,451 and 214,595 euros).
BYD currently produces mass-produced cars. Now it seems like the company also wants to win the premium segment.
From January to August 2022, it sold 978,795 electric and hybrid vehicles, up 377.3% year-on-year.
There’s one company whose name is getting a lot of buzz from The Motley Fool analysts these days. It is for us The best investment for 2022.
You can also benefit from it. To do that, you first need to know everything about this unique company. So now we have one free special reports compiled, which introduces this company in detail.
Christof Welzel does not own any of the shares mentioned. The Motley Fool owns the stock and recommends BYD.
Motley Fool Germany 2022