- BYD Co, Ltd (OTC:BYDDY) plans to produce electric vehicles in Vietnam with the government’s backing.
- On May 5, the Chinese EV maker’s Chairman and founder, Wang Chuanfu met with Vietnam’s Deputy Premier Tran Hong Ha to discuss the course of action, reported Bloomberg.
- Wang expects the Southeast Asian nation to pave the way for easy completion of investment procedures so that BYD can begin making EVs as soon as possible.
- Also Read: Tesla Reportedly Taps BYD Batteries To Power Model Y EVs In Germany
- The company plans to form a local supply chain, and the EVs made will be sold locally and in other parts of Southeast Asia.
- BYD sold 210,295 vehicles in April, about two times the number from last year, with most of its sales coming from China.
- The EV maker is building its first overseas production facility in Thailand.
- Also Read: Warren Buffett-Backed BYD’s Latest Hatchback EV Is Cheaper Than A Comparable Gas-Powered Car
- Price Action: BYDDY shares closed higher by 0.33% at $60.40 on Friday.
Intercept Announces New Phase 2 Data Showing Significant Impact Of OCA-Bezafibrate Combination On Normalization Of Multiple Key Biomarkers Of PBC-Induced Liver Damage At AASLD The Liver Meeting 2023
Data from two Phase 2 studies in PBC show combination of OCA + bezafibrate achieved biochemical remission (normalization of ALP, total bilirubin, GGT, ALT and AST) in 40-44% of patients in the first 12 weeks OCA 5
