Warren Buffett keeps cutting his stake in BYD

Berkshire Hathaway – American billionaire Warren Buffett’s company has reduced its stake in Chinese electric cars BYD, although it is still a large investor in it.

According to a Hong Kong Stock Exchange filing on Thursday, Hakeem Omaha Company sold about 95 million shares out of the total 225 million shares it owns in the Chinese company.

This comes after selling 4.23 million shares since last month, as the company has been reducing its holdings in BYD since August, after reducing its holdings by more than a third.

Buffett still owns a stake in the company estimated at 12%, or 130.3 million shares, as it began investing in it in 2008, and did not sell any shares in it until last August.

The company paid $ 232 million when starting to invest in BYD, and that value grew to billions of dollars after that.