BYD Auto recently unveiled a new brand logo, turning the previously used red BYD logo into a more metallic silver gray color.

The BYD logo means "Build Your Dreams", and the new logo forms the word "BYD" in a dynamic "forward" sense.

It is said to mean that BYD Auto is willing to link with users and partners in a more open posture and jointly explore the new industry of automotive products and services in the intelligent era.

In the past yeasr BYD has launched new products including Han, Tang 2021, Song PLUS, and Qin PLUS, and so far, its new energy vehicle sales have been nearly 1 million units.

BYD's new logo is only applied to the Chinese passenger car market, and other BYD Group businesses maintain the original logo unchanged.

BYD's stock traded slightly lower in Shenzhen at market open today, partly because investors were worried that a big price cut for Tesla's Model Y could have an impact on it.

But the stock then surged higher, with BYD up nearly 8 percent as of 1:15 p.m. Beijing time.