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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  BYD Company Limited    1211   CNE100000296

BYD COMPANY LIMITED

(1211)
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BYD : President of Uruguay Launches BYD's Electric Bus Fleet for CUTCSA, Uruguay's Largest Operator

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05/23/2020 | 08:31am EDT

Montevideo, Uruguay, May 23, 2020 --(PR.com)-- On May 21, BYD and Abriley S.A.,a local distributor for Uruguay and pioneer in Latin American transport electrification, delivered a fleet of 20 BYD 12-meter pure electric buses to CUTCSA, the country’s largest urban public transport operator, in the Uruguayan capital of Montevideo. Dr. Luis Lacalle Pou, the President of Uruguay, witnessed the ribbon-cutting ceremony at the Executive Tower in Montevideo’s Plaza Independencia.

The delivery of the 20 buses represents years of work and evaluations done with CUTCSA, local and national authorities. A BYD bus imported in 2013 by Abriley served as the foundation for replacing buses under the MOVES Program (Urban Sustainable and Efficient Mobility National Program), which seeks to gradually replace traditional diesel-powered buses with electric ones.

Participating in the ribbon-cutting ceremony were President Pou; Mr. Luis Alberto Heber, Minister of Transport and Public Works; Eng. Omar Paganini, Minister of Industry, Energy and Mining; Mr. Christian Di Candia, Mayor of Montevideo City; Mr. Juan Antonio Salgado, President of CUTCSA, and other national authorities, city officials, CUTCSA board members, as well as officials from BYD and Abriley.

Mr. Juan Antonio Salgado said that in spite of the COVID-19 impact on public transportation, CUTCSA is “continuously looking toward the future, as we know there are better times to come and we cannot stop implementing initiatives that, in the future, will be good for all of the transportation and the city.” Mr. Salgado also stated the electric buses will help electrify 100% of the vehicles currently used along the CA1 and D1 lines circulating in central areas of Montevideo City, significantly reducing noise and air pollution.

President Pou celebrated the special initiative’s impact in the midst of difficult times. President Pou said the transportation initiative promotes caring for the environment for future generations. The president added that this transportation project helps build greater sovereignty, especially for a country like Uruguay that is not an oil producer but is a strong power generator.

Mr. Attie, President of Abriley and distributor of BYD in Uruguay, who was unable to attend due to the COVID-19 restrictions, expressed his immense pride to the National Authorities of Uruguay in such an important milestone for the country's development and its transport. Mr. Attie noted that "this project began when Abriley imported the first 100% electric bus ever, as an independent distributor to Latin America, and today Uruguay becomes one of the leaders in Latin America in electrifying its transport."

BYD continues to expand its operations throughout Latin America, following a firm commitment to reduce greenhouse gas emissions globally. Its pure electric vehicles are successfully servicing markets in many countries across the region, including Chile, Colombia, Argentina, Ecuador, Panama, and Brazil. BYD's electric buses and taxis currently run in over 300 cities across 50 countries and regions worldwide.

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 Contact:
Jim Skeen/media relations specialist
jim.skeen@byd.com/661-264-8365

Contact Information:
BYD
Kelsey Cone
661-436-0513
Contact via Email
byd.com

Read the full story here: https://www.pr.com/press-release/813231

Press Release Distributed by PR.com

Copyright © 2020 PR.com and its licensors , source US Press Releases

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Financials
Sales 2020 138 B 19 599 M 19 599 M
Net income 2020 2 404 M 343 M 343 M
Net Debt 2020 61 946 M 8 828 M 8 828 M
P/E ratio 2020 70,0x
Yield 2020 0,14%
Capitalization 206 B 29 406 M 29 395 M
EV / Sales 2019
EV / Sales 2020 1,95x
Nbr of Employees 229 154
Free-Float 49,1%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 49,04 CNY
Last Close Price 65,16 CNY
Spread / Highest target 52,8%
Spread / Average Target -24,7%
Spread / Lowest Target -60,3%
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Managers
NameTitle
Chuan Fu Wang Chairman, President & General Manager
Jun Qing Dong Chairman-Supervisory Board
Ya Lin Zhou Chief Financial Officer
Zuo Quan Xia Non-Executive Director
Xiang Yang Lü Vice Chairman
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