BYDDY - BYD accelerates autonomous driving push - report

2023-05-17 11:17:57 ET

BYD Company ( OTCPK:BYDDY ) is driving its autonomous driving efforts forward aggressively, according to a new report on Wednesday.

Company president Stella Li told investors that the company has hired thousands of software engineers at a recent company event. Li indicated that the company will continue to target top university graduates and will be able to accelerate innovation in the next few years.

Per Reuters , the company has already started up an intelligent driving research division in Shanghai, centralizing research on the technology. The report added that the company currently utilizes Advanced Driver Assistance Systems (ADAS) developed by German manufacturer Bosch.

The company has long been a key investment of Berkshire Hathaway, though the Warren Buffett-led company cut its stake to below 10% in Q1 .

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