Warren Buffett-Backed BYD Marks Another Milestone With L3 Autonomous Driving Test License For High-Speed Roads
Portfolio Pulse from Benzinga Neuro
Chinese electric vehicle company BYD (OTC:BYDDF), backed by Warren Buffett, has received a conditional license for level 3 autonomous driving tests on high-speed roads. This is the second such license BYD has obtained, with the first one received in China in July. The company has recently achieved significant milestones, including producing 6 million new energy vehicles and launching the electric SUV Song L, which competes with Tesla's Model Y. BYD's advancements position it as a strong competitor to Tesla in the global electric vehicle market.
December 27, 2023 | 12:46 pm
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BYD has secured a second conditional license for L3 autonomous driving tests on high-speed roads, indicating progress in autonomous technology and strengthening its position in the EV market.
The acquisition of a second L3 autonomous driving test license suggests BYD is advancing in the autonomous driving space, which is a key area of growth and competition in the EV industry. This development could positively influence investor perception and potentially increase the stock's attractiveness in the short term, as it demonstrates BYD's commitment to innovation and its potential to challenge market leaders like Tesla.
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