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 marketâafter Volkswagen AGâs joint venture with state-owned FAW Group Co.âfor the first half of the year. That is a remarkable ascent given it didnât rank among the top 15 a year earlier https://www.wsj.com/articles/warren-buffett-backed-chinese-câŚ
BYD sold more vehicles than Tesla, including a combination of plug-in hybrids and pure electrics.
âIn 2008, Mr. Buffettâs 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 Hathawayâs 2021 annual report. The companyâs market capitalization had grown to $126 billion as of Saturday.â
Clickbait article template. a) compare to TSLA b) use words like âincluding hybridâ so gullible readers donât 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, itâs Pepsi.
B) If âgullible readersâ can read the headline, then they can also read the words âincluding hybrid.â Anyway, that was my summation, not the articles, so clearly you didnât bother reading it.
C) Musk does everything he can to generate publicity, including sending random tweets announcing deals that donât exist, deals he intends to reneg on, and occasionally deals that accomplish something. He doesnât need my help or the article writerâs.