New Electric Supercar

Market Overview
Read time 1.6 minutes

Year To Date Performances:

1. Chinese automaker BYD has unveiled the U9 electric supercar, capable of reaching speeds comparable to those of Ferrari's models, as part of its luxury Yangwang brand. With a top speed of 192.12 mph and acceleration to 100 km/h in 2.36 seconds, the U9 is set to compete with established supercar brands. Priced from 1.68 million Chinese Yuan ($233,424), deliveries are expected to start in the summer. The U9 features BYD's e4 Platform, DiSus-X Intelligent Body Control System, and a lithium iron phosphate (LFP) battery. In 2023, BYD produced over 3 million new-energy vehicles, with plans for global expansion, including a factory in Europe. However, questions about international growth remain amid the EU and the U.S. efforts to bolster local EV sectors.

2. Berkshire Hathaway reported a significant 28% increase in operating earnings for the fourth quarter, reaching $8.48 billion, primarily driven by its insurance operations. This surge contributed to a 17% rise in annual operating earnings for 2023, totaling $37.35 billion. The company's cash reserves hit a record $167.6 billion. Notably, Geico, Berkshire's auto insurance branch, reported a profitable year with $5.428 billion in net underwriting earnings due to higher premium rates and fewer claims. However, Burlington Northern Santa Fe (BNSF) experienced a 14% drop in annual net earnings, amounting to $5.08 billion. Investment income from insurance saw a 37% quarterly increase, reaching $2.75 billion. Overall, Berkshire's earnings, including investment gains, more than doubled in the quarter to $37.57 billion, with the full-year profits escalating to $96.22 billion.

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4. Headlines

   1. Datacenter usage is skyrocketing due to the demands of AI on existing computing processors.

   2. Pharmaceutical stocks rose as another weight loss drug shows positive signs in a late-stage human trial.

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