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Zhang Shidong

Berkshire Hathaway, the investment firm controlled by US billionaire investor Warren Buffett, has liquidated its holdings in Chinese electric vehicle (EV) maker BYD, closing out a 17-year investment run that generated a more than 30-fold increase for the leading investment conglomerate.
The latest quarterly report from Berkshire Hathaway Energy, the subsidiary that directly held Hong Kong-listed shares of the Chinese EV maker, indicated a zero position in BYD, confirming a full exit after a series of stake reductions since 2022.
The divestment came as China’s EV industry grapples with slowing sales and shrinking profits amid oversupply concerns, issues highlighted by the US and the European Union for flooding their markets with cheaper products.
The EV industry has been the target of China’s anti-involution campaign, which aims to curb harmful competition by cutting excessive capacity. EV sales in China rose by 27 per cent in August year on year, slowing from 40 per cent growth in the first half.
BYD’s shares dropped 3.4 per cent to HK$109.70 for their biggest decline in three weeks on Monday in Hong Kong, paring its gains to 23 per cent this year, compared with the 31 per cent advance of the Hang Seng Index.
Its Shenzhen-listed stock fell 1 per cent to 107.99 yuan, trimming the year-to-date gain to 16 per cent.
BYD responded to Buffett’s exit by noting that Berkshire Hathaway’s stake in the company had fallen below 5 per cent as of June last year, a threshold under Hong Kong exchange rules that removes the requirement to disclose changes in holdings.
“In stock investments, buying and selling is a normal part of the process,” said Li Yunfei, BYD’s general manager for branding and public relations, in a Weibo post on Monday. “We appreciate the recognition from Munger and Buffett of BYD, as well as their investment, support and partnership over the past 17 years. We appreciate all long-term investments.”

Berkshire Hathaway could not be immediately reached for comment.
Buffett bought 225 million Hong Kong-listed shares of BYD for HK$1.8 billion (US$231.7 million) at HK$8 a share in September 2008 on the advice of his late partner Charlie Munger, keeping the investment unchanged until 2022.
Over the past three years, Berkshire Hathaway, however, has disclosed some 15 rounds of reductions of the stock through the Hong Kong Exchange.
BYD’s Hong Kong-listed shares have risen 36-fold since Buffett began investing in the Chinese company, which overtook Elon Musk’s Tesla as the world’s biggest EV maker by sales in the fourth quarter of 2024 amid the nationwide push for green energy consumption.
The outlook for the industry has deteriorated recently, after stiffer competition forced key players, including BYD, Li Auto and Xpeng, to implement multiple rounds of price cuts to boost sales and protect market share. BYD’s shares are down 29 per cent after hitting a record high on May 23.
Second-quarter profit for BYD dropped 30 per cent from a year ago as the fallout from the brutal price war in the domestic market offset strong sales overseas. First-half net income fell significantly short of analysts’ expectations, despite a 14 per cent increase.
BYD, controlled by billionaire Wang Chuanfu, more than doubled its overseas deliveries to 258,182 cars in the second quarter of this year. Overseas sales, meanwhile, accounted for 23 per cent of its total deliveries, up from less than 10 per cent in 2024.


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Berkshire Hathaway whittles its holding in the Chinese EV maker back to zero amid slowing sales and shrinking profits


Berkshire Hathaway whittles its holding in the Chinese EV maker back to zero amid slowing sales and shrinking profits.


Warren Buffett’s Berkshire Hathaway wraps up 17-year investment in Chinese EV maker BYD

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Berkshire Hathaway whittles its holding in the Chinese EV maker back to zero amid slowing sales and shrinking profits

Berkshire Hathaway whittles its holding in the Chinese EV maker back to zero amid slowing sales and shrinking profits