- Warren Buffett’s Berkshire Hathaway backed BYD Co, Ltd (OTC:BYDDF) (OTC:BYDDY) looked to launch a new “professional and personal” electric car brand in 2023.
- The new brand will be an addition to Yangwang, a premium brand set for launch in the first quarter of 2023, Reuters reports citing Brian Luo, the company’s branding assistant general manager.
- Also Read: Warren Buffett’s Berkshire Trims Stake In BYD EV Company To Below 15%
- BYD capitalized on a range of incentives for electric cars offered by the central and local governments after dumping gasoline vehicles from its product mix this year.
- BYD also made a broader global push, selling its pure electric to markets including Norway, New Zealand, Singapore, Brazil, Costa Rica, and Colombia.
- Luo said BYD had sold cars to 35 countries outside China since it started exporting to Norway last May.
- Price Action: BYDDF shares traded at $26.28 in the premarket on the last check Thursday.
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