Electric Vehicles

Berkshire Hathaway Sells BYD Shares Worth $80 Million

 

Berkshire Hathaway has sold $80.7 million worth of Hong-Kong listed shares in China’s electric vehicle maker BYD.

The investment company, owned by Warren Buffett, lowered its holding’s in BYD from 16.28% to 15.99%, a filing to the Hong Kong Stock Exchange said on Tuesday.

The Hong Kong-listed shares of BYD fell as much as 2.3% to HK$174.10 on Wednesday. The combined market value of BYD’s stock listed in Hong Kong and Shenzhen is $87.50 billion.

 

BYD Sell-Off

Berkshire Hathaway last sold 5.78 million Hong Kong-listed shares in BYD on November 8 for HK$1.14 billion.

Separately, BYD said on Wednesday it had raised prices for each of three electric vehicle models by 2,000 to 6,000 yuan (about $280 to $830).

BYD said on WeChat that the national subsidy for some electric and hybrid-power vehicles would end on December 31, while the raw material price for batteries had also jumped since the second half of this year.

 

  • Reuters, with additional editing from Alfie Habershon

 

 

Read more:

 

BYD Has Most EV Tech Patents of China Carmakers – Nikkei

 

Tesla EVs Rank Poorly in US Magazine’s Reliability Survey

 

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

 

China’s BYD Races to Second Top Australia EV Brand – Drive

 

 

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.

Recent Posts

India Planning to Classify Clean Tech to Attract Investors

The world's third largest carbon polluter projects it needs $10 trillion to $15 trillion in…

10 hours ago

Dutch PM ‘May Not Disclose’ Result Of China Chip Curbs Talks

Netherlands-based ASML Holding, a key supplier to chipmakers, could see at least some of its…

10 hours ago

Bankers on Adani’s $2.5Bn Share Sale Mull Delay, Price Cut

Friday's stock market rout dragged shares of group flagship Adani Enterprises 11% below the minimum…

12 hours ago

Hong Kong Home Prices Slump 15% in First Fall For 13 Years

Home prices in the territory dropped in 2022 with December seeing the seventh consecutive monthly…

1 day ago

China Labels US a ‘Bully, Rule Breaker’ at WTO Meeting

Beijing’s WTO ambassador hit out at Washington after it emerged the US was appealing against…

1 day ago

Biden Extends Safe Haven Protection for Hongkongers – HKFP

US President Joe Biden ordered a two-year extension on Thursday of a programme that allows…

1 day ago