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Warren Buffett 'Loves' China’s BYD Despite Selldown, EV Executive Says
- Billionaire investor not abandoning EV maker, BYD’s Li says
- Berkshire Hathaway has pared its BYD stake in recent months
BYD’s shares have fallen around 35% in Hong Kong since a Berkshire-sized stake appeared in the Hong Kong exchange’s clearing system July 11.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
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.