Berkshire Hathaway has fully exited its stake in Chinese EV-maker BYD , ending a 17-year investment that began in 2008. The sale, part of a broader portfolio reduction, comes after BYD’s profits slowed and Mexico’s recent tariff hike on Chinese vehicles.
For the majority of the past two decades, Chinese EV-maker BYD has been able to hang its hat on the fact that famed investor Warren Buffett held a stake in its business. That’s no longer the case, according to a recent filing from Berkshire Hathaway.
Berkshire’s stake in the Tesla rival dates back to 2008 , when it wrote in its annual report it owned a 10% stake in an “amazing Chinese company” named BYD, which was building the vehicle of “the future … a new plug-in electric car.”
But according to a 10-Q form for Berkshire’s ener