Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 4.235 million Hong Kong-listed shares of Chinese electric vehicle maker BYD for HK$1.09 billion ($138.9 million).
The sale on February 3 lowered Berkshire’s holdings in BYD’s issued H-shares to 11.87%, the filing to the Hong Kong Stock Exchange on Thursday showed.
This is the second time in a week that Berkshire reduced its stake in the Chinese EV-maker.
Also on AF: BYD Sees Profits Supercharged as EV Sales Surge in 2022
The group has been offloading its shares in the rapidly expanding carmaker since late August last year. Berkshire’s stake in the company’s H shares was 20.49% at the time.
BYD was the world’s largest plug-in hybrids and pure electric vehicles maker in 2022, with a total of 1.86 million cars sold, growing faster than Tesla.
- Reuters, with additional editing by Vishakha Saxena
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