Chinese new energy company BYD will be one of Toyota’s strategic partners that also includes partnerships with Chinese battery manufacturer CATL, Toshiba, and Japanese battery manufacturer GS Yuasa.
Details of the strategic partnerships have yet to be released, but comes as Toyota is looking to increase its supply of batteries in order to produce 5.5 million electrified vehicles a year by 2025.
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 almost ten-fold, and is now worth roughly $1.96 billion.
For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.
© 2018 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