Warren Buffett Backed BYD To Launch Fresh EV Brand In 2023

Warren Buffett's Berkshire Hathaway backed BYD Co, Ltd BYDDF 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.