Etiqueta: Elon Musk

STORY: China's BYD saw sales accelerate by just over a fifth in the second-quarter. It helped the electric vehicle maker close the gap with rival Tesla for the title of world's top EV...

Experts say price cuts and a shift in consumer preference from gasoline-powered vehicles to EVs are driving strong sales for Chinese EV makers.

The BYD bet turned out to be one of Berkshire's best, with its value ballooning to $8 billion at BYD's peak as the EV market exploded.

Renowned investment tycoon Warren Buffett has recently accelerated the process of divesting his holdings in the Chinese electric vehicle manufacturer BYD. Buffett has executed two separate sales of his stake in the company within the span of a single month.

Buffett’s holdings in the carmaker are down more than 70% amid increasing technology and trade tensions between the United States and China

There are still some big questions that remain for British motorists about this relatively little-known brand.

Warren Buffett's Berkshire Hathaway has accelerated its selling of shares in BYD, China's largest seller of electric vehicles. Berkshire reduced its stake in BYD's issued H-shares to 5.99% on June 19, according to a Tuesday filing with the Hong Kong stock exchange. Berkshire may cease disclosing BYD sales after its ownership stake falls below 5%.

Billionaire Wang Chuanfu, whose BYD Co. is set to surpass Tesla as the world’s largest EV maker, is more focused than Elon Musk on producing cheap transportation for the masses.

The latest data from S&P Mobility finds that EV inventory at the end of April climbed 5.7% compared to the prior month and up 105% compared to a year ago. This despite steep discounting for EVs through most of the year.

BoA argues GM, Ford and Stellantis either face a future of funding continued losses in China or they can redeploy resources to finally become competitive with Tesla—but they can't do both.