BYD proposes doubling share buyback, unveils U9 supercar

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Shares of BYD Auto (BYDDY, 1211.HK) are moving up as the Chinese EV maker announced a new proposal to double its share buybacks in an effort to safeguard shareholder interests. In addition, the company unveiled a luxury, all-electric supercar, the Yangwang U9, with a price tag of over $233,000.

Yahoo Finance Anchors Brad Smith and Seana Smith break down the latest developments for BYD and what it could mean for the company moving forward.

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Editor's note: This article was written by Nicholas Jacobino