Stake cut to 6.9% from 7% (Il Sole 24 Ore Radiocor) - New York, 17 Jun - Berkshire Hathaway, the investment conglomerate of Warren Buffett, has continued to trim its stake in China's biggest electric vehicle maker BYD, according to a filing to the Hong Kong stock exchange.

The conglomerate sold 1.3 million Hong Kong-listed shares for 39.8 million dollars, the filing to the Hong Kong stock exchange said.

The sale reduced Berkshire's holding to 6.9% from 7%.

Berkshire first bought about 225 million shares of Shenzhen-based BYD in 2008 for some 230 million dollars. It sold half of its holding via sales in 2022-2023.

Wahington recently introduced new tariffs on Chinese electric vehicles in an effort to protect US jobs and manufacturers.

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(RADIOCOR) 17-06-24 16:58:27 (0468) 5 NNNN