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Berkshire Hathaway Sells $145 Million of China’s BYD Shares

The sale lowered Berkshire’s holdings in BYD’s total issued H-shares to 16.62% on November 8, down from 17.15%


Buyers look at one of BYD's electric vehicles
BYD sold a record number of electric vehicles in December, overtaking Tesla in 2022 sales. Photo: Reuters

 

Berkshire Hathaway has sold almost 6 million Hong Kong-listed shares in China electric vehicle giant BYD for $145.38 million, a stock exchange filing said,

The sale lowered Berkshire’s holdings in BYD’s total issued H-shares to 16.62% on November 8, down from 17.15%, Friday’s filing to the Hong Kong Stock Exchange showed.

BYD’s total sales over the first half of the year more than quadrupled to 633,777, making it the world’s biggest maker of EVs.

However, shares plunged almost 12% when speculation started in July that US billionaire investor Warren Buffett was looking to sell or adjust his stake.

The carmaker plans to expand into Europe, with plans to start sales in Germany and Sweden towards the end of the year.

  • Reuters, with additional editing from Alfie Habershon

Read more:

China’s BYD Planning Premium EV Brand Launch Next Year

BYD Shares Plunge Amid Speculation of Buffett Stake Sale

BYD Shares Plan to Sell Electric Vehicles in Europe – FT

Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.

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