Berkshire Hathaway has sold its remaining stake in Chinese EV and battery maker BYD, closing a 17-year investment that started with a $230 million bet in 2008.
- •In September 2008, Berkshire’s MidAmerican Energy bought 225 million BYD H-shares at HK$8 each, worth about $230 million.
- •The stake represented 10% of BYD and 24% of its Hong Kong stock, with Charlie Munger calling BYD’s founder Wang Chuanfu a “miracle.”
- •Berkshire held the position for more than a decade as BYD grew into a global EV and battery leader, its stake’s valuation surging into tens of billions of dollars during the 2020–2021 EV boom.
The Sale and Legacy
The trimming began in August 2022 with a sale of 1.33 million shares at HK$277, reducing the stake to 19.92%. By October 2023, Berkshire held 87.6 million shares, or 7.98%.
On July 16, 2024, the stake dropped below 5%, ending mandatory disclosure of further sales. By March 31, 2025, Berkshire’s filing marked its BYD stake at zero, down from $415 million in December 2024. On September 22, 2025, BYD confirmed Berkshire had fully exited and thanked the group for its long-term support.
The $230 million investment delivered multi-billion-dollar gains, though Berkshire has not disclosed exact profits from the staged sales. The exit closes one of Buffett and Munger’s most successful forays into China. BYD has stressed Berkshire’s decision was routine and not tied to its outlook.
Timeline:
- •Sep 2008: 225m shares bought, ~$230m.
- •Aug 2022: First sale, 1.33m shares.
- •Oct 2023: 87.6m shares (7.98%).
- •Jul 2024: Below 5%.
- •Mar 2025: Stake at zero.
- •Sep 2025: BYD confirms exit.
