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BYD (BYDDY) Produces 500,000 Yuan Plus EVs, Adds Color Options

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BYD Company Limited (BYDDY - Free Report) announced that it has reached a significant milestone by producing 500,000 Yuan Plus electric vehicles (EVs), also known as Atto 3 electric sport utility vehicles (SUVs). The company achieved this milestone just 19 months after the model first hit the market.

The Atto 3 is the first A-Class SUV to deploy BYD’s e-platform 3.0 for enhanced efficiency and safety.

The base version of Atto 3, with a 49.92 kWh BYD Blade Battery and 430 km of range, starts at 135,800 yuan.

BYD sold over 359,000 units of Yuan Plus in China and the average monthly sales of the model stand at around 30,000 units per month.

Per Electrek, the company exported 102,000 Atto 3 models as of August. BYD expanded its footprint in North America by delivering the first batch of the Atto 3 to Mexico in June.

The first foreign market to receive Atto 3 was Australia, where the model was revealed in the first quarter of 2022. Its deliveries began in August 2022.

The model was launched in Columbia in October 2022, followed by Brazil and Thailand in November 2022. Now it has reached 55 countries globally.

BYD Atto 3 outperformed Volkswagen, Tesla and Volvo to emerge as the best-selling EV in Sweden in July 2023.  

The company recently launched Yuan Plus Champion Edition, which ranges between 135,800 yuan and 163,800 yuan. The new trim offers two new colors: Oxygen Blue (with no additional charge) and Dynamic Purple (with an additional charge of 2,000 yuan).

The new trim has a luxurious beige interior, front seat ventilation and heating function, private glass for the rear door and rear windshield, a 3D transparent panoramic image system, parent-child mode and wipe-screen mode.

Zacks Rank & Key Picks

BYDDY currently carries a Zacks Rank #4 (Sell).

Some top-ranked players in the auto space include Oshkosh Corporation (OSK - Free Report) , Gentex Corporation (GNTX - Free Report) and Allison Transmission Holdings, Inc. (ALSN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for OSK’s 2023 sales and earnings implies year-over-year growth of 15% and 126.9%, respectively. The EPS estimate for 2023 has moved north by $1.75 in the past 60 days. The EPS estimate for 2024 has moved up by 6 cents in the past 30 days.

The Zacks Consensus Estimate for GNTX’s 2023 sales and earnings indicates year-over-year rises of 17.3% and 29.4%, respectively. The EPS estimates for 2023 and 2024 have moved up by 9 cents each in the past 60 days.

The Zacks Consensus Estimate for ALSN’s 2023 sales and earnings suggests year-over-year increases of 9.4% and 25.3%, respectively. The EPS estimate for 2023 and 2024 has moved up by 39 cents and 43 cents, respectively, in the past 60 days.

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