(Business Insider) Berkshire Hathaway has gained almost $2 billion in BYD stock this year to close at $7.9 billion compared to $5.9 billion at the close of 2020.
The conglomerate’s investment of $232 million on 225 million shares of the automaker has since gained an estimated 3,400% in nearly 13 years.
BYD has increased its revenue six times to $24 billion, while its net income has also grown three times to almost $1 billion since Buffet’s initial investment.
The automaker’s shares rose 8% on Monday after it announced that its passenger vehicle sales jumped more than four times to 60,500 units in August, compared to the same period of 2020.
BYD increased its sale of electric vehicles by 125% to 149,000 units in the first eight months of the year compared to the corresponding period of last year.
The manufacturer’s plug-in hybrid sales increased 485% to 112,000 units for the first eight months of last year, in contrast to the same period of 2020. BYD’s sale of gas-powered cars plummeted 22% to 106,000 units in the period.
002594: SHE is down -0.59%, BRK.A: NYSE is down -0.74%
