Warren Buffett has finally exited BYD, ending a 17-year investment. According to the report, his investment in the Chinese automaker has dropped to zero, from around ₱23.6 billion at the end of 2024.
In 2008, his company invested ₱13.1 billion for nearly 225 million shares, equivalent to a 10% stake at the time. Since 2022, he has been gradually selling the shares after the price increased by more than 20 times.
Li Yunfei, general manager of BYD, thanked the company for its support and investment over the 17 years. He said the sale was just part of normal stock trading.
Along with Buffett's exit, BYD's sales in China also fell for the fourth consecutive month in August. As a result, it reduced its sales target by up to 16%, or to 4.6 million vehicles this year.
