Warren Buffett ‘Loves’ China’s BYD Despite Selldown, EV Executive Says
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Warren Buffett “loves” China’s biggest electric-vehicle maker BYD Co. and isn’t abandoning it, a senior executive from the company said.
Warren Buffett “loves” China's biggest electric-vehicle maker BYD Co. and isn't abandoning it, a senior executive from the company said, despite the legendary investor's Berkshire Hathaway Inc. offloading more than a fifth of its stake this year.“It's very natural for him to get some returns — cash out,” BYD Executive Vice President Stella Li said in an interview Tuesday, in the first high-level public comments addressing the selldown of Buffett's long-held stake in the company. BYD shares jumped 6.9% in Hong Kong on Wednesday morning, hitting their highest since September and among the top gainers on the Hang Seng Index. Berkshire, which firs...