(BRK.A), (BRK.B)
The headlights flashing to pass you on the autobahn just might be coming from an EV built by BYD Company Ltd.
Chinese auto and battery-maker BYD Company Ltd has zoomed into the number one position as the world’s top selling EV manufacturer.
Nissan, Mitsubishi, Tesla, Volkswagen and BMW rounded out the top five, in that order.
BYD Co Ltd, which Berkshire Hathaway holds a minority stake in of nearly 10%, sold 6,099 pure electric cars in October 2015, which was almost double the 3,115 sold by second-place Nissan.
The Winner Month After Month
BYD’s first-place finish in October was the sixth consecutive month since May that it has led worldwide EV sales figures. The company has an eleven-percent market share of the total EV market.
BYD’s success is due to the popularity of its Qin sedan and Tang SUV. The company will introduce two new models, the SUVs Song and Yuan, in 2016.
BYD’s rise to the top is dramatic, as it was only ranked seventh in 2014, and it’s sure to continue to grow, as the company has yet to retail its EV cars in the United States.
In 2008, Berkshire Hathaway bet on BYD’s potential and purchased 225 million shares, and today owns roughly 10% of the company.
For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.
© 2015 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the 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.