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 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.
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.
Asian stocks rose this week, sending the benchmark index to its biggest two-week climb since January 2012, after Tokyo was chosen to host the 2020 Olympics and as data showed China’s economy is picking up. The rally reversed course yesterday ahead of a Federal Reserve meeting next week.