Warren Buffett Continues to Trim Stake in China EV-Maker BYD

Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.33 million Hong Kong-listed shares of Chinese electric vehicle maker BYD for HK$267.69 million ($34.43 million), a stock exchange filing showed.

The sale lowered Berkshire‘s holdings in BYD’s total issued H-shares to 14.95% on December 8, down from 15.07%, according to a filing to the Hong Kong Stock Exchange on Tuesday.

Buffett has been trimming his stake in the electric vehicle and battery maker this year, with the first share sale reported in August. That was the first time Berkshire Hathaway had reduced its stake in the rapidly expanding automaker in 14 years.

The company’s stake in BYD was 20.49% at the time.

Reuters, with inputs from 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]