(BRK.A), (BRK.B)
Berkshire Hathaway-backed BYD has announced that its flagship NEV sedan, the Han, has debuted in the Dominican Republic.
The BYD Han has already arrived in Brazil, Mexico, Colombia, Uruguay, Costa Rica, and the Bahamas. The official launching in the Dominican Republic sets another important milestone for BYD in the LATAM and the Caribbean passenger vehicle market.
As the world’s first mass-produced model that applied BYD’s ultra-safe Blade Battery, the HAN EV can achieve 0-100km/h acceleration in 3.9 seconds. The intelligent electric high performance AWD HAN EV boasts a range of up to 550 km（NEDC test cycle) with a drag coefficient of 0.233 Cd which can reduce power consumption while improving driving range.
Nelson Peña, President of Peravia Motors S.A. says, “People’s preference for fuel vehicles is one of the main reasons for global warming. This is why we want to provide new energy solutions and always abide by the highest standards for technologies, safety, and warranties.”
“BYD is one of the most valuable NEV brands in the world and it plays a key role in the EV market. Therefore, we decided to introduce BYD EVs into the Dominican market,” says Sebastián Peña, BYD Brand Leader and Business Director in Peravia Motors S.A..
To protect the forests and ocean in this country, the Dominican government issued Decree 103-13 in 2013, which declares that the customs duties and value-added taxes on electric vehicles will be reduced to 50% of that of the fuel vehicles for the development of clean energy.
About BYD
BYD and Berkshire Hathaway
In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares for $232 million. It’s an investment that has paid off handsomely. Berkshire’s original investment of $232 million had grown in value to $5.897 billion as of December 31, 2020.
© 2021 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.