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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  BYD Company Limited    002594   CNE100001526

BYD COMPANY LIMITED

(002594)
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BYD : ST Engineering Expands Autonomous Bus Platforms with BYD Electric Buses

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03/20/2019 | 11:40am EDT

Singapore- ST Engineering announced today that its Land Systems arm has expanded its portfolio of autonomous bus platforms with the inclusion of electric buses from BYD, a leading manufacturer of electric vehicles.

ST Engineering and BYD signs MOU to develop autonomous bus platforms.

(From left, seated): Mr Tan Soon Lee, VP/GM, Kinetics Advanced Robotics, ST Engineering and Mr Benson Ke, Assistant General Manager of BYD Asia-Pacific Auto Sales Division

(From left, standing): Dr Lee Shiang Long, President, Land Systems, ST Engineering and Mr Liu Xueliang, General Manager of BYD Asia-Pacific Auto Sales Division

This is a first step taken by the Group as it works towards a ready solution for the Singapore market and will form a consortium in response to the Call for Collaboration (CFC) by the Land Transport Authority and the Singapore Economic Development Board for the pilot deployment of autonomous buses and shuttles in Punggol, Tengah and the Jurong Innovation District. The ST Engineering autonomous vehicle (AV) kit will be integrated onto the BYD buses and the partners will look at marketing the joint platform internationally.

ST Engineering is an established player in the autonomous bus segment. It is currently conducting intermediate stages of the trials for autonomous shuttle and bus services on Sentosa, and in Jurong Island respectively. Since 2015, the Group has been working closely with partners spanning research institutes, vehicle OEMs, technology providers in cybersecurity, route optimisation and connectivity to develop the core aspects of the autonomous transportation technology stack. This technology build-up, when coupled with ST Engineering's indigenously developed AV capabilities, will provide a robust and efficient infrastructure for the roll-out of autonomous transportation systems in Singapore.

Dr Lee Shiang Long, President of Land Systems, ST Engineering, said, 'This partnership is the beginning of our quest for the CFC, and we are excited that a leading OEM of electric vehicles such as BYD has agreed to be part of our consortium. We continue to explore partnerships with like-minded companies and incorporate their capabilities into a proposal that offers a sustainable and scalable transportation solution for Singapore.'

'BYD is delighted to announce this partnership with ST Engineering, an established player at the vanguard of autonomous mobility development,' said Mr Liu Xueliang, General Manager of BYD Asia-Pacific Auto Sales Division. 'This collaboration will allow BYD to expand the presence of our globally renowned emissions-free mobility solutions within Singapore, empowering the country to make genuine contributions to tackling climate change and advancing driverless mobility as well as creating a cleaner and quieter environment for its inhabitants.'

The partners had previously worked together on the development of ST Engineering's STROBO range of adaptable and scalable autonomous material handling equipment for the warehouse, airport, seaport and manufacturing industries, like the autonomous forklift, pallet truck, pallet stacker and tow tractor.

ST Engineering is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 22,000 people across offices in Asia, the Americas, Europe and the Middle East, serving customers in the defence, government and commercial segments in more than 100 countries. With more than 500 smart city projects across 70 cities in its track record, the Group continues to help transform cities through its suite of Smart Mobility, Smart Security and Smart Environment solutions. Headquartered in Singapore, ST Engineering reported revenue of $6.7b in FY2018 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore, SGX ESG Transparency Index and SGX ESG Leaders Index. For more information, please visit www.stengg.com.

About BYD

BYD Company Ltd. is one of China's largest privately owned enterprises. Since its inception in 1995, the company quickly developed solid expertise in rechargeable batteries and became a relentless advocate of sustainable development, successfully expanding its renewable energy solutions globally with operations in over 50 countries and regions. Its creation of a Zero Emissions Energy Ecosystem - comprising affordable solar power generation, reliable energy storage and cutting-edge electrified transportation - has made it an industry leader in the energy and transportation sectors. BYD is listed on the Hong Kong and Shenzhen Stock Exchanges. More information on the company can be found at http://www.byd.com.

Media contacts:

Letticia Fong

AVP, Corporate Communications

Tel: (65) 6722 1881

Email: letticiafong@stengg.com

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (CNY)
Sales 2018 128 B
EBIT 2018 6 230 M
Net income 2018 2 880 M
Debt 2018 52 425 M
Yield 2018 0,31%
P/E ratio 2018 52,56
P/E ratio 2019 38,18
EV / Sales 2018 1,51x
EV / Sales 2019 1,28x
Capitalization 141 B
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 52,9  CNY
Spread / Average Target -5,5%
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Managers
NameTitle
Chuan Fu Wang Chairman, President & Executive Director
Jun Qing Dong Chairman-Supervisory Board
Jing Sheng Wu Chief Financial Officer & Vice President
Zuo Quan Xia Non-Executive Director
Xiang Yang Lü Vice Chairman
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