BYD and Exxon Mobil Strengthen Collaboration in Hybrid Technology
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: seekingalpha
- Strategic Partnership Agreement: BYD and Exxon Mobil signed a long-term memorandum of understanding to explore customized product R&D and new material applications, aiming to enhance their market competitiveness through technological collaboration.
- Hybrid Technology Development: The partnership will focus on innovations in hybrid technology, which is expected to drive BYD's advancements in electric vehicles while opening new growth avenues for Exxon Mobil.
- Joint Product Development: BYD launched engine oil last year in collaboration with Exxon Mobil specifically designed for its plug-in EVs, and this partnership will further deepen their synergy in product development, enhancing market adaptability.
- Market Outlook: By strengthening its collaboration with Exxon Mobil, BYD not only enhances its influence in the renewable energy market but also leverages Exxon Mobil's resources and technological advantages to accelerate its global expansion strategy.
Analyst Views on XOM
Wall Street analysts forecast XOM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for XOM is 132.17 USD with a low forecast of 114.00 USD and a high forecast of 158.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
12 Buy
7 Hold
0 Sell
Moderate Buy
Current: 134.970
Low
114.00
Averages
132.17
High
158.00
Current: 134.970
Low
114.00
Averages
132.17
High
158.00
About XOM
Exxon Mobil Corporation is an energy provider and chemical manufacturer. The Company’s principal business involves exploration for, and production of, crude oil and natural gas; the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a wide variety of specialty products; and pursuit of lower-emission and other new business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, Proxxima systems, carbon materials, and lithium. Its Upstream segment explores for and produces crude oil and natural gas. The Energy Products, Chemical Products, and Specialty Products segments manufacture and sell petroleum products and petrochemicals. Energy Products segment includes fuels, aromatics, and catalysts and licensing. Chemical Products segment consists of olefins, polyolefins, and intermediates. Specialty Products segment includes finished lubricants, basestocks and waxes, synthetics, and elastomers and resins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
