Warren Buffett and his Berkshire Hathaway have completed their investment in Chinese carmaker BYD after 17 years of cooperation. During this time, the value of the investment has increased more than 20 times, Reuters reports.
Buffett made his first purchase of BYD shares in 2008, spending about $230 million for 225 million shares, which was about 10% of the company.
Berkshire Hathaway has been gradually selling its stake in BYD since mid-2022. By the end of March 2025, the company had completely exited the investment, and the value of the stake was recorded as zero. During this period, BYD's share price increased more than twenty times, making this investment one of the most successful in Buffett's portfolio.
BYD, which started as a supplier of mobile phone batteries, has grown into China's largest maker of electric and hybrid cars and a major competitor to Tesla in China and Europe. But recent months have been difficult for the company, with profit falling for the first time in more than three years and domestic sales falling for the fourth straight month, due to fierce competition and a price war in China. As a result, BYD has lowered its annual sales forecast to 4.6 million vehicles, 16% below its original plan.
BYD's general manager of branding thanked Berkshire for its long-term support and called the investor's exit a normal market transaction. The company's shares fell about 3.6% on the Hong Kong stock exchange after the news of Buffett's exit.
Overall, Berkshire Hathaway's investment in BYD was a shining example of a successful long-term investment strategy in a growing technology company.