Buffett’s Berkshire Sells Another $139 Million BYD Shares

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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Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. You can write to her at [email protected]