Reported 11 months ago
Warren Buffett's Berkshire Hathaway has increased its selling of shares in BYD, China's top electric vehicle seller. The stake in BYD's issued H-shares was reduced to 5.99% on June 19, down from 7.02% on June 11, with plans to stop disclosing sales if it falls below 5%. Berkshire began investing in BYD in 2008, but has since been reducing its stake. BYD, founded by Wang Chuanfu in 1995, overtook Tesla as the world's largest electric vehicle maker last year, then fell to second place in the first quarter. Berkshire's cash stake reached $189 billion in the first quarter after selling $20 billion in stocks, mainly Apple.
Source: YAHOO