Etiqueta: News

BYD (BYD, 1211.HK) stock drifted lower in Monday's session after CNBC reported Berkshire Hathaway (BRK-B, BRK-A) CEO Warren Buffett sold off the firm's full stake in the Chinese EV maker. Yahoo Finance senior autos reporter Pras Subramanian breaks down the latest. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime.

Shares of China’s BYD slipped on Monday on news Berkshire Hathaway fully exited its stake in the EV-maker.

Warren Buffett's Berkshire Hathaway likely made about $7 billion or 30 times its money from its 16-year investment in BYD, Business Insider found.

Shares of BYD (BYDDY) fell over three percent in trading overnight in Asia after Warren Buffett's Berkshire Hathaway exited its longtime stake in the Chinese electric vehicle maker. Meantime. Porsche (PAH3.DE) is under pressure after slashing its profit guidance and Snap (SNAP) is on a tear in the pre-market, extending a recent run higher in the last week.

Berkshire Hathaway exits longtime stake in Chinese EV maker BYD, ending 17 years of Buffett backing amid shrinking profits and rising competition.

Big news from Papenburg, Germany

Paolo Ardoino, the CEO of stablecoin issuing company Tether (CRYPTO: USDT), revealed on Sunday that major automobile companies have begun accepting USDT payments in Bolivia.

Over the weekend, BYD announced on a RedNote livestream that the U9 Xtreme version has now broken the overall production car top speed record, clocking in at 496.22 km/h (308.37 mph). The car had just set the EV top speed record of 472.41 km/h a few weeks ago.  In addition, in its first test at the Nürburgring, it set the EV lap record at 6:59.157. BYD also implied that the top speed was limited by the 500 km/h-rated tires, as the car was still accelerating at the recorded speed. And the lap time was also just the start, with the car electronically limited to 350 km/h.

The company's exports more than doubled in the first six months of this year.

Berkshire Hathaway has completed exited its extremely profitable equity investment in the Chinese electric vehicle maker BYD.