Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.55 million Hong Kong-listed shares of electric vehicle maker BYD for HK$351.81 million ($44.85 million). This is according to a filing with the Hong Kong Stock Exchange on Thursday. The sale has lowered Berkshire’s holdings in BYD’s H-shares to 12.9 percent, down from 13.04 percent. Berkshire began selling the BYD shares in late August, and has since reduced its holding by more than a third.
When Buffett’s company acquired 225 million BYD shares in 2008, it gave it a 7.73 percent stake, equal to the 20.49 percent stake in H shares, according to BYD’s annual report. BYD is the world’s largest producer of plug-in hybrids and pure electric vehicles, with a total of 1.86 million cars sold in 2022. This is a growth rate that is faster than Tesla.
The sale of 1.55 million shares of BYD is a significant move for Berkshire Hathaway, and it shows that Warren Buffett is confident in the future of the electric vehicle industry. With the world’s largest producer of electric vehicles continuing to grow faster than Tesla, it is likely that the industry will continue to expand in the coming years. As electric vehicles become more popular, it is likely that Berkshire Hathaway will continue to invest in the industry.
Berkshire Hathaway’s decision to sell its 1.55 million shares of BYD is indicative of the future of the electric vehicle industry. With the world’s largest producer of plug-in hybrids and pure electric vehicles continuing to grow faster than Tesla, it is likely that the industry will continue to expand in the coming years. Investors like Warren Buffett have confidence in the industry, and it is likely that more investors will follow suit.
The electric vehicle industry is growing rapidly, and it is likely that the industry will continue to expand in the coming years. With the world’s largest producer of electric vehicles continuing to grow faster than Tesla, it is clear that the industry has a bright future. Berkshire Hathaway’s decision to sell its 1.55 million shares of BYD is indicative of the future of the electric vehicle industry, and it is likely that more investors will follow suit. The industry is set to experience exponential growth in the coming years, and investors are likely to benefit from the growth.
