Warren Buffett-backed Chinese electric vehicle manufacturer BYD Company Limited (OTC: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. (NASDAQ:TSLA) and Nio Inc. (NYSE: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
