Warren Buffett’s Berkshire Hathaway has sold its entire holding in Chinese electric vehicle maker BYD Co (HKG:1211, LSE:0HKY, OTCQX:BYDDY) after a 17-year investment estimate to have made the business over $4b billion.
Berkshire first invested in BYD in 2008, buying a 10% stake for $230 million. The US investment titan started reducing its position in 2022 as the automaker’s share price soared.
CNBC was first to report Berkshire’s complete exit, while BYD acknowledged the move with thanks on Chinese social media, describing it as a normal financial decision.