BYD to Issue Software Update for 90K Hybrids to Fix Battery Defect

BYD Company Limited BYDDY, a Chinese EV manufacturer, will issue a software update for about 90,000 plug-in hybrid vehicles in China after regulators warned that defects in battery pack production could pose safety risks, per Bloomberg News.The update covers 88,981 Qin Plus DM-i sedans built between January 2021 and September 2023, per a notice from the State Administration for Market Regulation.The move follows an official probe into battery-pack flaws, which is significant given the model’s large sales volume and its importance to BYD’s monthly performance. Regulators found inconsistencies in how the battery packs were manufactured, potentially leading to reduced power output or preventing the cars from operating in full electric mode. Since the Qin Plus DM-i made up roughly 20% of BYD’s October sales, the issue is significant as major EV makers battle over reliability.BYD will deliver the fix via an over-the-air update, monitor vehicles for any irregularities and use dashboard warnings to alert drivers. If a problem is discovered, BYD will replace the battery pack at no cost.Per Seeking Alpha, in November, BYD delivered 474,921 passenger vehicles, down 5.7% from a year earlier. This included 237,540 battery-electric models, which grew 19.9% year over year, and 237,381 plug-in hybrids, which fell 22.4% from the prior year.BYD Zacks Rank & Key PicksBYDDY carries a Zacks Rank #4 (Sell) at present.Some better-ranked stocks in the auto space are General Motors Company GM, OPENLANE, Inc. KAR and Garrett Motion Inc. GTX, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for GM’s 2025 and 2026 EPS has improved 21 cents and 38 cents, respectively, in the past 30 days.The Zacks Consensus Estimate for KAR’s 2025 sales and earnings implies year-over-year growth of 9.4% and 48.2%, respectively. EPS estimates for 2025 and 2026 have improved 9 cents and 11 cents, respectively, in the past 30 days.The Zacks Consensus Estimate for GTX’s 2025 sales and earnings implies year-over-year growth of 2.6% and 16.7%, respectively. EPS estimates for 2025 and 2026 have improved 13 cents and 27 cents, respectively, in the past 60 days. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report General Motors Company (GM): Free Stock Analysis Report OPENLANE, Inc. (KAR): Free Stock Analysis Report Garrett Motion Inc. (GTX): Free Stock Analysis Report Byd Co., Ltd. (BYDDY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks