Warren Buffett's Berkshire Hathaway trims its stake in Chinese EV maker BYD to 6.9%

Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 4, 2024. The conglomerate first bought about 225 million shares of Shenzhen-based BYD in 2008 for about $230 million. The bet turned out to be extremely lucrative as the EV market saw explosive growth in China and elsewhere. Warren Buffett's conglomerate has sold an additional 1.3 million Hong Kong-listed shares of BYD for$39.8 million, according to a filing to the Hong Kong Stock Exchange. The sale r ...