Legendary investor Warren Buffet's company is said to have earned about 25 times more profit when selling shares of the Chinese electric car company they bought 14 years ago.
Specifically, billionaire Warren Buffett's investment company Berkshire Hathaway is said to have earned about 1.3 billion USD from BYD shares in the past 4 months, divided into 5 installments, achieving a profit of 25 times, according to a report. Markets Insider analysis.
American billionaire made a fortune by early buying shares of Chinese electric car company - 1
Billionaire Warren Buffett's investment company has bought BYD shares since 2008 (Photo: Getty Images).
BYD is currently China's largest electric vehicle manufacturer, Tesla's main competitor in the world's most populous market.
According to CNN, the legendary American investor's Berkshire Hathaway company spent $232 million to buy 225 million BYD shares in 2008. At that time, BYD shares fell to a record low due to the global financial crisis. bridge.
However, since then, BYD stock price has increased sharply. In 2020, BYD's stock price listed on the Hong Kong stock exchange increased 437% as the Chinese electric vehicle market boomed, and the company developed "Blade Battery", a project aimed at mitigating concerns about Battery safety in electric vehicles.
BYD says the battery is thinner and longer than traditional lithium batteries, so it can maximize space inside the battery pack. It is also less likely to burn even when subjected to strong impacts.
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