Why is BYDDY down 7% ?

[Buffetteer]

I find is so hard to find news on this company. Does anyone have any good links to updated news stories on BYD Auto?

 

Something must have happened to have it drop 7% here today & 6% in China yesterday.

[Valuehunter7]

BYD COMPANY (01211) (A) loses 9.6% as Mercedes-Benz reportedly to select another battery provider

2012-07-16 12:05:24

 

From Mainland-based Internet Information Agency, Mercedes-Benz decided not to use batteries provided by BYD COMPANY (01211) anymore after an E6 electric car caught fire after a collision and would select another battery provider.

 

BYD COMPANY (A) lost 9.6% and closed midday at RMB17.21. BYD (H) was once as low as HK$13; it closed midday down 2.8% at HK$13.1.

 

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[Valuehunter7]

Also out last night:

 

 

BYD COMPANY (01211) rolls out div payout plan for next 3 yrs

2012-07-16 09:09:30

 

BYD COMPANY (01211) rolled out its dividend payout plan for the coming three years. It said the dividend paid should not be lower than 30% of the average distributable profit of the three years ahead.

 

The group added it would raise the cash dividend payout ratio if it sees net profit to grow stably in a continuous manner in the next three years.

 

AAStocks Financial News

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Email: [email protected]

Web Site: www.aastocks.com

 

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[Buffetteer]

Thanks VH7, that's some great information.

 

Now I have a place to go to see BYD news.

 

 

[meiroy]

 

http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20130103000083&cid=1206&MainCatID=12

 

"The company described its car's system as "a perfect solution when the parking space is not wide enough for the driver to exit the car once parked" — in other words, you can get out of the car first and then park it by remote.

 

BYD also said the Su Rui can be driven remotely from its parking spot to the curbside so the driver and passengers do not have to dash in the open if it is raining.

 

A number of problems still have to be resolved, including using the remote control effectively at a distance and improving the clutch control. Another difficulty faced by the developers was ensuring that the cars could be driven at a slow speed."

 

Would could possibly go wrong...