BYD Stock Falls After Buffett Sells Entire Stake in EV Maker

Shares of BYD Co. fell the most in three weeks after a report that Warren Buffett’s investment firm sold its entire stake in the Chinese electric-vehicle maker, Charlotte Yang reported for Bloomberg News.

From the day before Berkshire’s first purchase to March 31 this year, BYD shares surged more than 4,500%. (Photo: Business Wire)

The stock slid as much as 3.6%, ranking among the worst performers on a gauge of Chinese shares listed in Hong Kong.

Berkshire Hathaway Inc. has exited its entire holding in BYD, according to a CNBC report on Sunday that also cited a U.S. firm spokesperson confirming the move.

A filing by Berkshire Hathaway Energy, the subsidiary that held BYD shares, listed the value of the investment as zero as of March 31, CNBC reported.

Buffett’s firm first bought 225 million shares in September 2008 and held the stock for more than 15 years. From the day before Berkshire’s first purchase to March 31 this year, BYD shares surged more than 4,500%.

Over the past two decades, BYD has evolved from a little-known Chinese cellphone battery provider into the country’s largest electric and hybrid vehicle maker, Danny Lee also reported for Bloomberg News.