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Berkshire Hathaway sells BYD shares, now owns 14.8% of Chinese company

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Berkshire Hathaway sells BYD shares, now owns 14.8% of Chinese company

Robert Besser
18 Dec 2022, 04:12 GMT+10

Investment company Berkshire Hathaway has sold 1.33 million Hong Kong-listed shares of Chinese electric vehicle maker BYD for $34.43 million.
The sale by Berkshire, which is owned by Warren Buffett, lowered its holdings in BYD’s total issued H-shares to 14.95 percent on 8th December, down from 15.07 percent
BYD has surpassed Tesla to become China’s best-selling EV brand

HONG KONG: A filing on the Hong Kong Stock Exchange this week reported that investment company Berkshire Hathaway has sold 1.33 million Hong Kong-listed shares of Chinese electric vehicle maker BYD for $34.43 million.

The sale by Berkshire, which is owned by Warren Buffett, lowered its holdings in BYD’s total issued H-shares to 14.95 percent on 8th December, down from 15.07 percent, the filing showed.

BYD has surpassed Tesla to become China’s best-selling EV brand. It sold 103,157 electric vehicles in China in November. This compares to Tesla selling 71,704 vehicles from its China factory, according to the China Passenger Car Association.