Shares of Berkshire Hathaway-backed Chinese battery and vehicle manufacturer BYD Co., Ltd. jumped 6.49% on Thursday to a new all-time high.
BYD’s stock (BYDDF), which had been as low as $4.35 on March 23, closed at $31.00 on Thursday.
The stock is up over 625% over 12 months.
A Profitable EV Company
The company has reported strong sales of its vehicles, including the Han luxury car, which debuted in July. The Han is outselling its rivals from both Nio and Xpeng Motors.
BYD’s Han EV’s long-range pure electric version has a single-charge range of 605 kilometers (376 miles) based on the NEDC test cycle.
In other news, BYD announced in December that it received a large order to deliver another 406 of its pure electric buses for the Colombian capital of Bogota.
The order was just weeks after it completed the delivery of 470 pure electric buses to the city.
BYD and Berkshire Hathaway
In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares. It’s an investment that has paid off handsomely. Berkshire’s original investment of $230 million has grown in value over thirty-fold.
© 2021 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.