- 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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