BYD Partners With Grab to Expand EV Footprint Across Southeast Asia

BYD Company Limited BYDDY 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 PicksBYD currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the auto space are Geely Automobile Holdings Limited GELYY, Blue Bird Corporation BLBD and XPeng Inc. XPEV. 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.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Geely Automobile Holdings Ltd. (GELYY): Free Stock Analysis Report Blue Bird Corporation (BLBD): Free Stock Analysis Report Byd Co., Ltd. (BYDDY): Free Stock Analysis Report XPeng Inc. Sponsored ADR (XPEV): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks