The Berkshire Hathaway investment company by Warren Buffett sold the last participation in Chinese auto giants Byd.
According to the shares received by News Outlet Reuters, Berkshire has sold his last stock granch in BYD in recent months after investing in the car manufacturer 17 years ago.
The report states that Berkshire’s original investment of USD 230 million (USA 349 million US dollars for today’s exchange rate) corresponds to around 225 million shares in 2008 – or about 10 percent of BYD.
The billionaire Buffett and his late business partner Charlie Munger had to defend their decision at the company’s annual conference in 2009 and publicly expressed their admiration and confidence in the BYD founder Wang Chuanfu.
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Berkshire Hathaway began to gradually sell the shares three years ago after the BYD share price had risen by the twenty fold.
It is estimated by 2022 that Berkshire’s investment would have approximately 4.6 billion US dollars (7 billion US dollars) by 2022.
In view of BYD’s worldwide dominance in recent years – reflected in his share price – however, some analysts suspect that the investment on Mr. Buffett’s company is worth a value of around 10 billion US dollars ($ 15.2 billion).
In 2008, the five-year BYD was the first to stop a plug-in hybrid vehicle on the market: the F3DM.
The F3DM was the plug-in hybrid version of the F3 petrol farm, which has been offered for sale for three years.
While BYD is best known for its cars, the Auto arm was eliminated in 2003 by its parent company – a battery manufacturer founded in 1995.
Despite the happiness, Mr. Buffett recently sold his most important investments in China and Taiwan after an increase in geopolitical tensions in the region.
In a 2023 interview with CNBC, Mr. Buffett confirmed his admiration for Wang Chuanfu, but replied to questions about his sale by saying: “I think we can find things with the money I will feel better with.”
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