Warren Buffett’s Berkshire Trims Stake In BYD EV Company To Below 15%

Berkshire Hathaway sold 1.33 million Hong Kong-listed shares of electric vehicle maker BYD Co, Ltd (OTC:BYDDF) (OTC:BYDDY) for HK$267.69 million ($34.43 million).
The divestment reduced Warren Buffett-owned investment company’s holdings in BYD’s total issued H-shares to 14.95% on December 8, down from 15.07%, Reuters reports.
As of November 17, Berkshire sold about 3.23 million Hong Kong-listed shares of the Tesla Inc (NASDAQ:TSLA) rival for HK $630.33 million ($80.7 million), trimming its stake from 16.28% to 15.99%.
Also Read: Warren Buffett-Backed BYD More Than Doubles Production, Deliveries In Nov Despite COVID-19 Challenges
In December, BYD forged a 500 million ringgit ($113 million) tie-up with Sime Darby Motors Sdn Bhd as it made its electric vehicle debut in Malaysia.
BYD’s growing list of export destinations now stretches from North to Southeast Asia, Australia, and Europe to Latin America.
BYD’s foreign markets included Brazil, Chile, Germany, Israel, Japan, and India.
Price Action: BYDDF shares traded lower by 1.88% at $27.08 in the premarket on the last check Tuesday.

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