BYD Co., the Chinese automaker partially owned by Warren Buffett’s Berkshire Hathaway Inc., has revived plans to sell new stock equivalent to as much as 20 percent of its Hong Kong-listed shares, people familiar with the matter said. The stock fell.
BYD Co. , the Chinese automaker backed by Warren Buffett , fell as much as 3.9 percent in Hong Kong trading today, the lowest level in almost a year, after second-quarter profit was below analysts’ expectations.
BYD Co., the Warren Buffett-backed Chinese auto-and-battery maker, is seeking to increase overseas sales of its electric bus as billionaire founder Wang Chuanfu predicts a “second takeoff” for the company this year.
BYD Co., the Chinese electric carmaker partly owned by Warren Buffett’s Berkshire Hathaway Inc., climbed to an eight-month high in Shenzhen trading on speculation the government is close to unveiling plans to boost demand for new energy vehicles, an analyst said.
Wang Chuanfu , chairman of BYD Co ., the Chinese automaker backed by Warren Buffet t, said China will become the world’s biggest market for electric cars as the government seeks to limit the country’s dependence on foreign oil, the BBC reported, citing an interview.
BYD Co., the Chinese automaker part- owned by Berkshire Hathaway Inc., forecast full-year profit will surge as much as 619 percent on improved car sales and narrowing losses in its solar-energy business.