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BYD Partners With Grab to Expand EV Footprint Across Southeast Asia
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BYD Company Limited (BYDDY - Free Report) has partnered with Grab, Southeast Asia’s leading ride-hailing platform, to supply electric vehicles (EVs). This follows a similar collaboration BYD established with Uber Technologies in July 2024. Under the new agreement, Grab driver partners across Southeast Asia will gain access to up to 50,000 BYD EVs.
The initiative is designed to offer Grab’s fleet and driver partners competitive rates on BYD vehicles, along with extended battery warranties. Drivers will have the option to rent EVs from Grab’s fleet partners or access financing support through Grab’s car ownership program. The partnership spans Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, featuring models, such as the Denza D9 MPV, BYD Atto 3, BYD Seal and BYD M6.
Grab aims to position BYD’s premium EV brand, Denza, as a cornerstone of its GrabExec fleet, emphasizing the Denza D9 luxury seven-seat electric MPV. The collaboration will also include advanced IoT integration, enabling seamless connectivity between BYD vehicles and Grab’s platform. BYD cars will have the Grab driver app installed on their head units, providing drivers with navigation and work details on a larger screen. Moreover, sensor and telemetry data from the vehicles will be integrated into Grab’s system, offering insights into driving behaviors and guiding drivers on improvements.
In August 2024, Grab announced plans to expand its EV fleet in Indonesia by more than 1,000 vehicles, primarily from BYD, by the end of 2024. Meanwhile, BYD’s strategic partnership with Uber in July 2024 aims to deploy 100,000 new EVs across global markets, including Europe, Latin America, the Middle East, Canada, Australia and New Zealand.
BYD’s 2024 sales reached 4.25 million passenger cars, up 41% year over year, including 1.76 million battery EVs. December marked a record month with sales of 509,440 plug-in hybrid and pure-electric vehicles, driven by subsidies and additional incentives for buyers.
The Zacks Consensus Estimate for GELYY’s fiscal 2025 sales and earnings suggests year-over-year growth of 66.62% and 149.31%, respectively. EPS estimates for fiscal 2025 and 2026 have improved by 15 cents and 38 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for BLBD’s fiscal 2025 sales and earnings suggests year-over-year growth of 10.97% and 12.14%, respectively. EPS estimates for fiscal 2025 have improved 18 cents in the past 60 days.
The Zacks Consensus Estimate for XPEV’s 2024 sales and earnings suggests year-over-year growth of 27.31% and 42.26%, respectively. EPS estimates for 2024 and 2025 have improved 4 cents and a penny, respectively, in the past 60 days.
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BYD Partners With Grab to Expand EV Footprint Across Southeast Asia
BYD Company Limited (BYDDY - Free Report) has partnered with Grab, Southeast Asia’s leading ride-hailing platform, to supply electric vehicles (EVs). This follows a similar collaboration BYD established with Uber Technologies in July 2024. Under the new agreement, Grab driver partners across Southeast Asia will gain access to up to 50,000 BYD EVs.
The initiative is designed to offer Grab’s fleet and driver partners competitive rates on BYD vehicles, along with extended battery warranties. Drivers will have the option to rent EVs from Grab’s fleet partners or access financing support through Grab’s car ownership program. The partnership spans Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, featuring models, such as the Denza D9 MPV, BYD Atto 3, BYD Seal and BYD M6.
Grab aims to position BYD’s premium EV brand, Denza, as a cornerstone of its GrabExec fleet, emphasizing the Denza D9 luxury seven-seat electric MPV. The collaboration will also include advanced IoT integration, enabling seamless connectivity between BYD vehicles and Grab’s platform. BYD cars will have the Grab driver app installed on their head units, providing drivers with navigation and work details on a larger screen. Moreover, sensor and telemetry data from the vehicles will be integrated into Grab’s system, offering insights into driving behaviors and guiding drivers on improvements.
In August 2024, Grab announced plans to expand its EV fleet in Indonesia by more than 1,000 vehicles, primarily from BYD, by the end of 2024. Meanwhile, BYD’s strategic partnership with Uber in July 2024 aims to deploy 100,000 new EVs across global markets, including Europe, Latin America, the Middle East, Canada, Australia and New Zealand.
BYD’s 2024 sales reached 4.25 million passenger cars, up 41% year over year, including 1.76 million battery EVs. December marked a record month with sales of 509,440 plug-in hybrid and pure-electric vehicles, driven by subsidies and additional incentives for buyers.
BYDDY’s Zacks Rank & Key Picks
BYD currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Geely Automobile Holdings Limited (GELYY - Free Report) , Blue Bird Corporation (BLBD - Free Report) and XPeng Inc. (XPEV - Free Report) . While GELYY & BLBD sport a Zacks Rank #1 (Strong Buy) each, XPEV carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GELYY’s fiscal 2025 sales and earnings suggests year-over-year growth of 66.62% and 149.31%, respectively. EPS estimates for fiscal 2025 and 2026 have improved by 15 cents and 38 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for BLBD’s fiscal 2025 sales and earnings suggests year-over-year growth of 10.97% and 12.14%, respectively. EPS estimates for fiscal 2025 have improved 18 cents in the past 60 days.
The Zacks Consensus Estimate for XPEV’s 2024 sales and earnings suggests year-over-year growth of 27.31% and 42.26%, respectively. EPS estimates for 2024 and 2025 have improved 4 cents and a penny, respectively, in the past 60 days.