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Tuesday, July 14, 2015

Cuba to import BYD autos of Warren Buffett

Chinese auto and battery company BYD Ltd. said Cuba plans to buy 719 of its vehicles for tourists to rent, once the rush begins as the United States re-establishes diplomatic relations.

BYD, partly owned by Berkshire, says its sedans and SUVs will make up Cuba’s largest auto rental fleet. The country’s streets are known for their vintage American autos, preserved since the 1953-1959 revolution that resulted in a Communist government.

BYD said in a press release that it sent some vehicles to an exposition in Havana last November. The Cuban government also has purchased 40 BYD passenger cars.

“Chinese tourists are flocking to Cuban beaches, leisure resorts and golf courses, and their visits to this old socialist ally are expected to increase even more,” BYD said.