Warren Buffett-Backed BYD's Flagship Han EV Sedan Drives Into Brazil: What You Need to Know

Warren Buffett-backed Chinese electric vehicle manufacturer BYD Company Limited BYDDF is deepening its presence in Latin America and the Caribbean.

What Happened: BYD announced that it has launched its flagship Han EV sedan in Brazil. The Han EV sold in Brazil is a four-wheel-drive performance model, having an NEDC range of 550 km and capable of accelerating from 0 to 100 km per hour in 3.9 seconds, according to CnEVPost.

"We're proud to work with 8 well-known local dealers to further our environmental protection mission and provide a superior fully-electric driving experience for our Brazilian customers," the company said in a statement on Twitter.

The Han model is already available in countries such as Colombia, Uruguay, Bahamas, Dominican Republic and Costa Rica.

Related Link: Nio, XPeng, Buffett-Backed BYD Among Top Quality EV Brands In China: Survey

Why It's Important: The Han model debuted in China in July 2020, with BYD launching all-electric and plug-in hybrid versions.

Earlier this month, the company unveiled two new variants, named Han DM-I and Han DM-p, priced between 216,800 yuan ($33,080) and 322,800 yuan.

In a major strategic move, BYD announced in early April that it is stopping production and sales of oil-fueled vehicles, bringing itself in closer competition to the likes of Tesla Inc. TSLA and Nio Inc. NIO in China.  The EV maker announced last weekend it has thus far sold 1.8 million new-energy vehicles, cumulatively.

BYD closed Friday's session 2.29% lower at $28.60, according to Benzinga Pro data.

Photo: Courtesy of BYD