Latest News

Chinese electric carmaker BYD plummets after Buffett sale
Chinese electric carmaker BYD plummets after Buffett sale

Shares in Chinese electric carmaker BYD plunged on Wednesday after its largest backer, Warren Buffett's Berkshire Hathaway, reduced its stake amid speculation of a potential exit. Berkshire first bought 225 million BYD shares in 2008 and has been the biggest stakeholder in the company, now China's largest EV manufacturer and a major rival to Tesla.