Shenzhen-Based BYD Auto Sponsors LPL Team Victory Five – The Esports Observer

Shenzhen-based automotive company BYD Auto said on Friday that the company has signed a sponsorship deal with the Chinese League of Legends Pro League (LPL) team Victory Five (V5). The BYD Auto logo will be featured on the left chest of V5’s team jerseys. 

Financial terms of the deal were not disclosed.

V5 is also based in Shenzhen, the city will host the League of Legends World Championship this year on Nov. 6. In 2019, V5 closed an over ¥100M RMB ($14.12M USD) Series A funding round with undisclosed investors. 

BYD Auto is the automotive subsidiary of Chinese multinational BYD Co.Ltd. In 2008, Warren Buffett’s Berkshire Hathaway Energy bought roughly 10% shares of BYD in $1.8B HKD ($2.32M), becoming BYD’s largest foreign shareholder. According to Buffett’s letter to Berkshire shareholders, Berkshire Hathaway owns an 8.2% stake in BYD with a market value of $5.9B at the end of 2020.

Source: Read Full Article