Warren Buffett cuts his stake in BYD once again

Berkshire Hathaway, whose CEO, American billionaire Warren Buffett, has continued to reduce its huge stake in BYD, the largest electric car producer in China, in which it was among the early investors.

The company affiliated with billionaire Warren Buffett sold 1.3 million BYD shares listed on the Hong Kong Stock Exchange for 310.5 million Hong Kong dollars, equivalent to approximately 39.8 million dollars.

The sale, which took place on Sunday, saw Berkshire Hathaway’s stake in issued BYD shares fall from 7.02% to 6.90%, according to the latest stock exchange filing disclosed today.