Warren Buffett's Berkshire Further Trims Stake In EV Maker BYD Amid Rising China Risks

Warren Buffett’s Berkshire Hathaway Inc. BRKA BRKB has reportedly trimmed its stake in China’s BYD Manufacturing Company Limited BYDDY BYDDF further.

What Happened: Berkshire sold about 3.23 million Hong Kong-listed shares of BYD for HK $630.33 million ($80.7 million), Reuters reported, citing a filing with the Hong Kong stock exchange on Tuesday.

Buffett’s investment firm has been on a BYD share-selling spree in recent months.

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With the latest disposal, Berkshire’s holding of BYD’s issue H-shares fell from 16.28% to 15.99% as of November 17, Reuters said.

Berkshire first sold BYD shares in late August, when it disposed of 1.3 million shares of the electric vehicle maker for $47 million. The firm opened a position in BYD in 2008.

BYD has emerged as among the frontrunners in the hot-and-happening Chinese electric vehicle market and it has a thriving battery manufacturing business as well. The company, however, is susceptible to China risks, including the frequent COVID-19 lockdowns and the country’s standoff with the U.S.

Price Action: BYD’s ADR listed over the counter settled Monday’s session at $46.87, down 0.85%, according to Benzinga Pro data.