Etiqueta: Tesla

Warren Buffett's Berkshire Hathaway (BRK-B, BRK-A) is cutting its stake in Chinese EV maker BYD Company (1211.HK, BYDDY) after selling nearly $40 million worth of BYD stock. Catalysts Anchors Madison Mills and Seana Smith report on Berkshire Hathaway's BYD holdings and the international competition between Chinese manufacturers and other overseas auto makers, like Tesla (TSLA). For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Luke Carberry Mogan.

The global electric vehicle (EV) new-car market enjoyed strong growth in April, as multiple BYD models performed well.

With almost $40 million sold in this EV stock, Warren Buffett continues to trim his stake in the popular EV producer.

The investment mogul’s stake in the Chinese electric vehicle maker is effectively down more than 66%

BEIJING/NEW YORK (Reuters) -Warren Buffett's Berkshire Hathaway has again trimmed its stake in BYD, the Chinese company that last year surpassed Tesla as the world's largest electric vehicle maker. Berkshire sold 1.3 million Hong Kong-listed BYD shares for HK$310.5 million ($39.8 million), according to a filing on Monday with the Hong Kong stock exchange. The sale reduced Berkshire's stake in

China's BYD has made a name for itself in the highly competitive Chinese auto market and the fact that Berkshire picked the company's stock over Tesla is a testament to its strength.

Buffett's Berkshire Hathaway lowers stake in Chinese EV giant BYD - media reports

Warren Buffett's conglomerate has sold an additional 1.3 million Hong Kong-listed shares of BYD for $39.8 million, according to a filing.

Tesla (TSLA) shareholders approve Musk's massive pay package, showing strong support. Meanwhile General Motors (GM) cuts forecast for EV production and sales for 2024.

Booming Chinese car brand BYD has slashed the price of its most affordable electric car. The Dolphin small hatchback is now $2000 cheaper, with prices starting at $38,890 (before on-road costs) for the base Dynamic and $42,890 for the Premium. Despite the price cut, the Dolphin has not regained its crown as the cheapest EV on sale in Australia. That title belongs to the GWM Ora, which is priced at $35,990 drive-away. [read-more-default-title] Is...