Asian Tech Press (SEP 07) -- The value of BYD Auto shares held by Warren Buffett's Berkshire Hathaway soared $2 billion this year, increasing the value of his position in the Chinese electric car and battery maker to nearly $8 billion, a gain of 3,400 percent in less than 13 years.
In 2008, Berkshire Hathaway invested $232 million in 225 million shares of BYD's Hong Kong stock. The company's latest annual report showed that Berkshire's holdings in BYD were worth $5.9 billion by the end of 2020, leaping to become Warren Buffett's 8th-largest long position. Since then, BYD shares have risen about 23 percent, increasing the value of Berkshire's stake in BYD to $7.9 billion.
BYD Auto is now the top seller of new energy vehicles in China. According to BYD's August sales report, 67,630 cars were sold, with new energy vehicles accounting for more than 90%.
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