Company Overview - BYD is a global leader in electric vehicles and has sold 4 27 million new energy vehicles globally in 2024, including electric vehicles and plug-in hybrids, marking a 41% year-over-year increase [5] - Berkshire Hathaway owns around 4 9% of BYD, representing approximately 29,900, making it the cheapest EV in the country [3][4] - The new Dolphin model has a battery range of 350 km (217 miles) and deliveries are set to begin in March [4] - BYD will launch the Sealion 07, a Model Y competitor, starting at under $60,000, and the Shark, its first pickup truck, which has over 5,500 preorders [9] Industry Trends - Australia's EV market saw 91,292 EVs sold in 2024, up 4 7% year-over-year, representing 7 4% of all new vehicles sold [7] - EV sales in Australia faced pressure in the second half of 2024, with an overall drop of 6 9% year-over-year, while Tesla sales fell 25 8% and other EV models gained 9 6% [8]
Warren Buffett-Backed BYD Launches Australia's First EV Under $30K: How The Move Could Strengthen Fight Against Elon Musk's Tesla