Berkshire Hathaway Sells $39.8M in Shares of China's BYD

19 Jun 2024 CW Team

Berkshire Hathaway Inc. has sold $39.8 million worth of shares in Chinese electric vehicle (EV) manufacturer BYD Co Ltd, reducing its stake in the company. This move comes as part of Berkshire's broader portfolio management strategy, led by renowned investor Warren Buffett.

According to a filing with the Hong Kong Stock Exchange, the sale involved approximately 1.96 million BYD shares, bringing Berkshire's holdings in the company down to about 207.14 million shares. Despite this reduction, Berkshire Hathaway remains a significant shareholder in BYD, reflecting continued confidence in the company's long-term prospects.

Berkshire Hathaway first invested in BYD in 2008, acquiring a substantial stake in the company. This investment has proven highly profitable, with BYD emerging as a leader in the global electric vehicle market. The company's diverse portfolio includes not only electric cars but also batteries and other related technologies, positioning it well to capitalise on the growing demand for sustainable transportation solutions.

The recent share sale is part of Berkshire's routine investment practices, aimed at balancing and diversifying its extensive portfolio. While reducing its stake, Berkshire Hathaway continues to hold a significant position in BYD, underscoring its ongoing belief in the EV maker's growth potential.

BYD has been expanding its market presence both domestically and internationally, with increasing sales of its electric vehicles and buses. The company's focus on innovation and sustainability aligns with global trends towards cleaner energy and transportation solutions.

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