Buffett’s company trims its stake in Chinese EV maker BYD

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Warren Buffett’s company has trimmed its investment in Chinese electric car and battery maker BYD for the first time since it bought 225 million shares in 2008, an investment that has soared in value. Berkshire Hathaway said in a regulatory filing with the Hong Kong stock exchange that it had sold 1.33 million of its BYD shares for roughly $47 million, or about $369 million Hong Kong dollars. Berkshire paid $232 million for the 225 million BYD shares it bought in 2008. By the end of last year, the value of those shares had ballooned to nearly $7.7 billion.