Core Insights - Berkshire Hathaway, led by Warren Buffett, has completely exited its investment in BYD, confirming the sale of all shares [2] - BYD's public relations manager acknowledged the gradual reduction of Berkshire's stake since August 2022, emphasizing the normalcy of buying and selling in stock investments [2] - Buffett's initial investment in BYD was heavily influenced by his friend Charlie Munger, who strongly recommended the investment [4][5] Investment History - Berkshire Hathaway acquired 225 million shares of BYD at HKD 8 per share in 2008, totaling approximately HKD 1.8 billion, which represented about 10% of BYD's shares post-placement [5] - Over the 14 years of holding, BYD's stock price increased by approximately 3890%, yielding substantial returns for Berkshire Hathaway [5] Company Overview - BYD, founded in 1995 and headquartered in Shenzhen, is a leading player in the global electric vehicle (EV) market, with a market share of 31.7% in China's EV sector as of 2022 [7][8] - The company is recognized for its comprehensive capabilities in battery, motor, and electronic control technologies, providing a full range of solutions from energy acquisition to application [9] Recent Performance - In the first seven months of 2025, BYD's global vehicle sales reached 2.49 million units, a year-on-year increase of 27.4%, with overseas sales of passenger cars and pickups exceeding 550,000 units, up over 130% [9] - BYD's new car registrations in Europe surged by 225% in July 2025, capturing a 1.2% market share and surpassing Tesla [9] Competitive Advantages - BYD's cost structure is significantly lower than that of competitors, with production costs at 55% of those of Volkswagen's electric vehicles, even after accounting for taxes [10] - The company's "Di Chain" payment model enhances liquidity in the supply chain, allowing suppliers to receive payments faster and reducing their financing costs, which in turn lowers component procurement costs for BYD [9]