The famous American billionaire Warren Buffett began an investment in the Chinese automotive company Byd, when it was still completely unknown outside the country of origin. Now Berkshire Hathaway has completely withdrawn the ventures.
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In the notification of the Berkshire subsidiary, dealing with energy, the Zero BYD investment was recorded at the end of March. For comparison, the investment level at the end of 2024 was $ 415 million.
Buffetta began to invest in BYD with headquarters in Shenzhen in 2008, when it paid $ 230 million. for about 225 million shares. This corresponded to about 10 percent. shares in the Chinese car manufacturer.
Buffetta began selling purchased shares in 2022. This was the case when the price of the campaign increased more than twenty times.
BID loses Buffett's support. Actions have increased over 20 times
Li Yunfei, CEO of BYD for branding and public relations, in a post on his official account Weibo thanked Berkshire for “investments, help and company in the last 17 years”. He described the sale of shares as a “normal” investment transaction in shares.
Tesla's greatest rival recorded a decrease in quarterly profit for the first time in three and a half years, because his expansion hit a government campaign against price wars.
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Domestic sale of BYD, which accounts for almost 80 percent. global deliveries, fell in August the fourth month in a row. According to Reuters, the company reduced the annual sales purpose by as much as 16 percent. up to 4.6 million vehicles.
According to data for the first quarter of 2025, the share of Chinese brands in total sales of cars in Western Europe increased to a record 4.8 percent. The number of imported cars jumped by 64.9 percent. compared to the same period last year and by 30.5 percent. compared to the fourth quarter of 2024.
