Shares of BYD fell as much as 3.6% in Hong Kong on September 22 after reports said Berkshire Hathaway has sold its entire stake in the Chinese EV maker.

Berkshire Hathaway, led by Warren Buffett, bought 225 million BYD shares in 2008 and held the investment for over 15 years.

The US firm began cutting its stake in mid-2022, with ownership dropping below 5% last year.

A CNBC report cited a Berkshire spokesperson confirming the exit, and filings showed the value of its BYD investment was zero as of March 31.

BYD’s stock has dropped about 30% from its peak four months ago, amid intense competition and price wars in China.

BYD started as a battery supplier before becoming the country’s top EV and hybrid vehicle manufacturer.

🔗 Source: Bloomberg

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