Warren Buffett-Backed Chinese Car Maker BYD Zooms Past Rivals
The company saw sales of electric vehicles and hybrids skyrocket as rivals such as Tesla suffered plant shutdowns elsewhere
As sales of most major auto makers in China have sunk this year, hit by rigid Covid-19 lockdowns and supply-chain disruptions, a Warren Buffett-backed Chinese car maker has zoomed past rivals, rapidly nearing the top position.
As China was dealing with Covid outbreaks, BYD became the second-best-selling brand in its home market—after Volkswagen AG’s joint venture with state-owned FAW Group Co.—for the first half of the year. That is a remarkable ascent given it didn’t rank among the top 15 a year earlier https://www.wsj.com/articles/warren-buffett-backed-chinese-c…
BYD sold more vehicles than Tesla, including a combination of plug-in hybrids and pure electrics.
“In 2008, Mr. Buffett’s Berkshire Hathaway invested $230 million for a 10% stake in BYD. The stake recently amounted to about 7.7% of the company, according to Berkshire Hathaway’s 2021 annual report. The company’s market capitalization had grown to $126 billion as of Saturday.”
Clickbait article template. a) compare to TSLA b) use words like “including hybrid” so gullible readers don’t notice c) throw in a reference to Musk
A) Of course compare to Tesla. Who else would you compare to? When talking about Target, you compare to WalMart. With Coke, it’s Pepsi.
B) If “gullible readers” can read the headline, then they can also read the words “including hybrid.” Anyway, that was my summation, not the articles, so clearly you didn’t bother reading it.
C) Musk does everything he can to generate publicity, including sending random tweets announcing deals that don’t exist, deals he intends to reneg on, and occasionally deals that accomplish something. He doesn’t need my help or the article writer’s.