After announcing his Mexico foray, Warren Buffett-supports BYD Co.‘s BYDDF The Japanese division said it will start selling its first battery-electric vehicles in the country early next year.

What happened: China’s BYD announced plans to launch an electric sports utility vehicle. ATTO 3in Japan from Jan. 31 as the company intensifies its plan to sell or make its cars available in major auto markets, Reuters reported.

The world’s largest EV maker said the car will have a range of 485 kilometers and will cost 4.4 million yen ($32,735.66). The company’s Japanese unit aims to launch two more models by the end of 2023 and open more than 100 dealerships in the Asian nation by the end of 2025.

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Japan boss of BYD Atsuki Tofukuji said the company plans to set up interim retailers in 22 cities from the end of January but is aiming to cover all 47 prefectures. “We hope to gradually make our presence felt as we work toward net-zero emissions and our customers demand a variety of choices,” he said.

Why it matters: Even though Gasoline-electric hybrid models are more popular than electric vehicles in JapanThe share of battery-powered cars is expected to grow as non-Japanese automakers like BYD and Volkswagen pave the way to the market.

Recently Buffett Berkshire Hathway BRK BRK sold about 3.23 million Hong Kong-listed BYD shares for HK$630.33 million ($80.7 million) in November.. After the sale, Berkshire’s stake in BYD fell from 16.28% to 15.99% as of Nov. 17, leaving Berkshire still a large shareholder.

Meanwhile, BYD has performed, as the November data shows it delivered 113,915 units of battery electric vehicles, up almost 147% from the same period last year.

price action: US-listed OTC shares of BYD closed Friday’s session at $25.88, up 3.24% Benzinga Pro data.

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