Warren Buffett's Berkshire Hathaway Sells $39 Million Worth of BYD Shares, Reducing Stake in Chinese EV Leader

Warren Buffett's Berkshire Hathaway Sells $39 Million Worth of BYD Shares, Reducing Stake in Chinese EV Leader

Warren Buffett's Berkshire Hathaway has sold Hong Kong-listed shares of Chinese EV leader BYD for nearly $39 million, reducing its stake in the Chinese electric vehicle. Berkshire initially invested in BYD in 2008, purchasing around 225 million shares for about $230 million. The investment has been highly profitable, with BYD's stock price increasing nearly 600 by April 2022. This sale follows significant reductions in Berkshire's holdings in 2022 and 2023. BYD, founded by Wang Chuanfu, has grown from a battery manufacturer to the top car brand in China and the world's leading EV producer, surpassing Tesla in late 2023.


User: Benzinga

Views: 143

Uploaded: 2024-06-17

Duration: 00:50

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