[ET Net News Agency, 9 November 2017] Nomura raised its target price for BYD Company
(01211) to HK$94 from HK$93, and maintained its "hold" rating.
The research house said the rising threshold on energy density of EV batteries, as
mandated in both the NEV subsidy policy and the dual credit system, should continue to
prompt BYD, a traditional local leader in LFP technology, towards further investment into
ternary technology.
Nomura estimated BYD's total battery capacity will reach 40GwH by FY2020, when its
ternary-based capacity reaches 75% of its total, versus currently 35%. This should in turn
raise its average battery energy density from 130wh/kg (LFP), or 160wh/kg (LFMP), to
eventually 200wh/kg (NMC).
The roadmap has designated BYD to be one of the oligopolists of the market, along with
its closest competitor CATL, Nomura noted. (KL)
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01211 BYD COMPANY
Nominal 
203.800 +2.600 (+1.292%) Others
09/11/2017 14:41
[I-bank focus]Nomura raises BYD Company (01211) to HK$94
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
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