Berkshire Hathaway exits BYD stake, carmaker says sale ‘normal’

Berkshire Hathaway, Warren Buffett’s investment flagship, has confirmed it has sold all of its shares in Chinese electric-vehicle maker BYD (1211), while a company executive said buying and selling is a normal part of stock investment.

Li Yunfei, BYD’s general manager of branding and public relations, wrote on Weibo that Berkshire began trimming its stake in August 2022, reducing its holdings below 5 percent by June last year.

He thanked Buffett and Berkshire Vice Chairman Charlie Munger for their recognition of BYD, adding that the company appreciated the 17 years of investment, support and companionship since the US conglomerate first bought in during 2008.

STAFF REPORTER