Core Viewpoint - Berkshire Hathaway, led by Warren Buffett, has completely divested its stake in BYD, marking the end of a significant investment that began in 2008 [1][3]. Group 1: Investment History - In 2008, Berkshire Hathaway purchased 225 million shares of BYD for $230 million, following the advice of Charlie Munger [3]. - Over the years, BYD's stock price increased by approximately 3890% during Berkshire's investment period [3]. Group 2: Recent Developments - Starting in August 2022, Berkshire began to reduce its holdings, which had reached a peak of $9 billion (approximately 640.3 billion RMB) in the second quarter of 2022 [5]. - By June 2024, Berkshire had sold nearly 76% of its shares, reducing its ownership to below 5% of BYD's circulating shares, which no longer required further disclosure under Hong Kong Stock Exchange rules [5]. - In the first quarter of 2023, Berkshire's financial report indicated that the investment in BYD was valued at zero, confirming the complete divestment [5]. Group 3: Company Response - BYD's General Manager of Brand and Public Relations, Li Yunfei, acknowledged the divestment, emphasizing the normalcy of buying and selling in stock investments and expressing gratitude for the support received from Buffett and Munger over the years [1][5]. Group 4: Buffett's Perspective - Although Buffett did not provide specific reasons for the sale, he previously described BYD as an "extraordinary company" run by an "extraordinary person," while suggesting that he would find "better things" related to money [7].

Core Viewpoint - The article discusses the significant shift in the ASEAN automotive market, where Chinese car manufacturers are rapidly increasing their market share at the expense of Japanese brands, particularly in the electric vehicle segment [1][3][24]. Group 1: Market Dynamics - The ASEAN automotive market, previously dominated by Japanese brands, is experiencing a dramatic change as Chinese car manufacturers gain ground [4][9]. - In Indonesia, the market share of Chinese cars has surged from less than 2% in 2019 to 6% in 2024 [5]. - In Thailand and Malaysia, the market shares for Chinese cars are projected to be 12% and 23% respectively in 2024, compared to nearly zero and 17% in 2019 [6]. Group 2: Electric Vehicle Segment - Chinese car manufacturers dominate the electric vehicle market in ASEAN, holding 45% of total electric vehicle sales [8]. - In Thailand, BYD leads with a 30% market share in electric vehicles, followed by Great Wall Motors at 20% and SAIC at 15% [8]. Group 3: Japanese Manufacturers' Response - Japanese car manufacturers are facing unprecedented challenges, with their market shares in Indonesia dropping to 89% in 2024, down 6 percentage points from 2019 [9]. - Nissan plans to close one of its factories near Bangkok and reduce its workforce by 1,000 employees by September 2025 [10]. - Honda is also consolidating its operations, planning to merge two factories in Thailand by 2025 [11]. Group 4: Strategic Moves - Chinese car manufacturers are investing in local production to leverage government incentives and reduce costs [16]. - The Thai government offers substantial subsidies for local electric vehicle production, including a sales subsidy of up to 150,000 Thai Baht per vehicle [16]. - Japanese manufacturers are also planning to invest $4.3 billion in electric vehicle production in Thailand over the next five years [23]. Group 5: Economic Context - The ASEAN economy has been growing steadily, with a GDP of $3.8 trillion as of 2023, making it the fifth-largest economy globally [24]. - The region is seen as a strategic area for Chinese companies under the Belt and Road Initiative, with significant potential for growth in the electric vehicle sector [25][26].