Berkshire Hathaway-backed BYD is aiming for rapid expansion of its retail stores across Brazil, as it boosts its sales of automobiles in the country and partners with Santander Bank to offer customers auto financing.
Currently, BYD has nine stores in the Brazilian market. Its local presence is projected to reach 45 cities by the end of 2022 and reach 100 locations by the end of 2023.
Besides vehicles, BYD Brazil also offers customers overall new energy solutions, which include the generation of clean energy by photovoltaic modules manufactured by BYD.
BYD Brazil has signed a strategic partnership with Santander Bank, the leading bank in automotive financing in Brazil. This will furnish one-stop auto financing services for the customers, from credit analysis, and credit approval, to payment options through a fully digital platform. Also, the partnership will benefit the local dealers to manage and grow their business of electric passenger vehicles.
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.
“Where Are Markets Headed? Six Pros Take Their Best Guess” was the headline in The Wall Street Journal. Clearly, much is written, and even more is probably spoken on financial shows, about where the market is headed. Is it at a peak? Is it at the bottom? Will it be higher or lower a week, month or year from now? Warren Buffett thinks that such prognostications are ultimately useless when it comes to actually making money.
“I know of no one that has been successful at, and really made a lot of money, predicting the actions of the market itself,” Buffett said at the 1999 Berkshire Hathaway annual meeting. “I know a lot of people who have done well picking businesses and buying them at sensible prices.”
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.
Berkshire Hathaway’s Mouser Electronics, Inc. has received the 2022 Global Distributor of the Year — Pinnacle Award from Qorvo, a leading global provider of connectivity and power solutions.
Chosen by Qorvo’s executive sales team, the award recognizes Mouser for its role in strengthening Qorvo’s leadership in cellular and broadband networking, the Internet of Things, and defense and aerospace applications.
“We are pleased to congratulate Mouser Electronics and express our gratitude for their hard work in supporting Qorvo’s growth throughout the world,” said Rodney Hsing, Sr. Sales Director of Major Defense Accounts and IDP Global Distribution at Qorvo. “This award recognizes the important role Mouser has played as our lead internet channel partner, helping us to grow market share in key technology areas, ensuring that all engineers have access to our exceptional connectivity and power devices.”
“We are truly grateful for our ongoing partnership with Qorvo, and we are honored to receive the Global Distributor of the Year award for the second time,” said Jeff Newell, Senior Vice President of Products at Mouser Electronics. “This award reflects the committed efforts of our team in efficiently promoting and distributing Qorvo’s solutions to our global customer base.”
Mouser was previously named Global Distributor of the Year by Qorvo in 2018.
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 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.
Sales of Berkshire Hathaway-backed BYD’s joint venture with Mercedes-Benz, the D9 premium MPV, started deliveries Sunday, and sales are already going through the roof. Presales racked up 30,000 orders for the multipurpose vehicle that they market under the upscale Denza brand.
Engineered and produced in and for the China market, the DENZA brand combines Daimler’s vehicle architecture expertise with BYD’s leading battery technology.
The D9 is offered as both a plug-in hybrid and pure electric vehicle, and the EV boasts a 500KM range.
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.
If in reading a company’s financial reports it doesn’t make any sense to you, then avoid the company all together, Warren Buffett advises.
“I would say that when the accounting confuses you, I would just tend to forget about it as a company,” Warren Buffett said at the 1995 Berkshire Hathaway Annual Meeting. “We have never had any great investment results from companies whose accounting we regarded as suspect. I can’t think of a one.”
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.
Berkshire Hathaway Specialty Insurance has appointed Pedro Mairos as Global Underwriting Officer, Marine. He was previously Head of Marine for the UK & Ireland at BHSI.
“Our large global footprint coupled with the substantial growth of our Marine business made now the optimal time to deepen the global leadership of our marine underwriting team worldwide,” said Dean LaPierre, Chief Underwriting Officer, Property & Marine, BHSI. “We are pleased to have such a deep bench of talent across both underwriting and claims to service our marine customers and brokers in local markets around the globe.”
Pedro joined BHSI in 2019. He has more than two decades of experience in the global marine market, including Europe, Asia and the Middle East. He will continue to be based in London.
BHSI offers a full range of marine insurance products worldwide, including inland transit, motor truck cargo, warehouse legal liability, builder’s risk, contractor’s equipment, ocean cargo, stock throughputs, project cargo, and marine equipment, including subsea equipment.
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 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.
Berkshire Hathaway and Alleghany Corporation have announced the completion of Berkshire Hathaway’s acquisition of Alleghany.
Holders of Alleghany common stock as of immediately prior to the closing of the transaction are entitled to receive $848.02 per share in cash, representing a total equity value of approximately $11.6 billion.
Upon the closing of the transaction, Alleghany became a wholly-owned subsidiary of Berkshire Hathaway. Alleghany continues to be led by Joe Brandon.
Founded in 1929 by Oris and Mantis Van Sweringen as five railroad systems, the company eventually evolved into a holding company that owns and supports certain operating subsidiaries and investments, anchored by a core position in property and casualty reinsurance and insurance. The company’s primary sources of revenues and earnings are from reinsurance and insurance operations and investments. The insurers include: Transatlantic Holdings, Inc., RSUI Group, Inc., a leading underwriter of wholesale specialty insurance based in Atlanta, Georgia, and CapSpecialty, Inc., an underwriter of a full inventory of specialty lines, including commercial property, casualty, fidelity, surety and professional lines with a focus on small business on both an admitted and non-admitted basis.
Alleghany also generate revenues and earnings from a diverse portfolio of non-financial businesses that are owned and managed through its wholly-owned subsidiary Alleghany Capital.
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 a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is
Berkshire Hathaway-backed BYD has launched the premium electric SUV, BYD-ATTO 3, India’s First Sporty Born E-SUV.
This marks BYD’s official entry into the Indian passenger vehicle market with its brand mission of “Technological Innovations For A Better Life.”
Equipped with the ultra-safe Blade Battery and the born EV platform (e-Platform 3.0), BYD-ATTO 3 features fast charging from 0% to 80% within 50 mins, a range of 521km according to ARAI tests with a higher battery capacity of 60.48kWh, and a 0-100km/h acceleration time of 7.3s. With a sporty and powerful exterior and rhythmic interior, BYD-ATTO 3 also features L2 Advanced Driving Assistance System (ADAS) BYD Dipilot, 7 airbags, the panoramic sunroof, a 12.8-inch adaptive rotating suspension electronic pad, 360° holographic transparent imaging system, NFC card key, the Vehicle to Load (VTOL) mobile power station and other leading configuration, making this car competitive in the market.
BYD-ATTO 3 is the first model in India built on the e-Platform 3.0, which is designed for the next generation of pure electric vehicles with the Blade Battery, an 8-in-1 electric powertrain, and highly integrated domain controllers. The platform features the world’s first 8-in-1 electric powertrain (with drive motor, motor controller, reducer, onboard charger, DC converter, high-voltage distribution box, vehicle controller, and Battery Management System (BMS) integrated), resulting in a 20% overall size reduction and 15% weight reduction and allowing the overall efficiency to exceed 89%.
BYD-ATTO 3 is powered by the Blade Battery, which passes the nail penetration test, one of the industry’s most rigorous tests for batteries. The battery also emerged unscathed and fully operational after a 46-tonne truck drove over it without exhibiting leakage, deformation, or smoke.
BYD-ATTO 3 features sharp lines and a strong, sporty posture adding to the vigorous aesthetics of the Dragon Face 3.0 design language led by Wolfgang Egger, BYD’s Design Director. Its advanced, intelligent cabin is styled in the spirit of sports and competition. Inspired by the interior design concept of gym and music, BYD-ATTO 3 exhibits passion, energy, and power.
The car is equipped with a panoramic sunroof measuring 1,261 mm long and 849 mm wide with electric slide and anti-pinch features. It also comes standard with a 12.8-inch adaptive rotating suspension electronic pad supporting a 360° holographic transparent imaging system. The panoramic sunroof and imaging system are the largest among cars in the segment.
BYD-ATTO 3 is also equipped with a mobile power station that allows the vehicle to transform into a super mobile power bank. This power station supports power up to 3.3kw, satisfying most needs of high-power electrical appliances.
BYD-ATTO 3 provides intelligent driving systems and multi-sensor layouts with the BYD DiPilot L2 driving assist system. It is also equipped with 7 airbags, a robust steel body structure, and a safety-oriented chassis design.
The car also has other features such as mobile phone wireless charging, one-touch electric control tailgate, NFC card key, an 8-speaker audio system, electric seat adjustment, voice control, LED headlamps, LED rear lights, multi-color gradient ambient lighting that responds to music rhythm, PM 2.5 air filter, CN95 air filter, etc.
Sanjay Gopalakrishnan, Senior Vice President of Electric Passenger Vehicles of BYD India, said, “We are happy to announce the launch of our much-acclaimed electric SUV in India. With proven and innovative technology, we are on track towards building a stronger ecosystem that facilitates EV adoption in our country. The launch of BYD-ATTO 3 is a step towards this mission. We will constantly contribute to building a greener future.”
“BYD has two plants in India covering more than 140,000 sqm with 3,000 employees and a cumulative investment of over $200 million in the country. We are fully committed to India’s goal of achieving net-zero emissions by 2070 and will promote sustainability and zero emissions by introducing pure electric vehicles and the latest technologies. We intend to sell 15,000 units of BYD-ATTO 3 in India over the next year and plan to set up a local manufacturing facility in the due course.” Added by Ketsu Zhang, Executive Director of BYD India.
BYD has 24 showrooms across 21 cities in India and aims to expand to at least 53 showrooms by the end of 2023. Furthermore, BYD India plans to participate in the Auto Expo 2023 and will debut more products and technologies for the Indian market. BYD will continue to leverage technological innovations for a better life, promote sustainable development of society, and implement its “Cool the Earth by 1°C” initiative.
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.
Exactly what is investing and what differentiates it from gambling? Warren Buffett gives a clear, concise answer.
“Investment is the process of putting out money today to get more money back at some point in the future,” Buffett said at the 1999 Berkshire Hathaway annual meeting. “And the question is, how far in the future, how much money, and what is the appropriate discount rate to take it back to the present day and determine how much you pay?”
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.
Berkshire Hathaway and Alleghany Corporation have announced that all regulatory approvals relating to the proposed acquisition of Alleghany by Berkshire Hathaway have been received.
As previously announced, the stockholders of Alleghany voted to approve and adopt the Agreement and Plan of Merger, dated as of March 20, 2022, at a special meeting held on June 9, 2022. The completion of the proposed transaction is currently expected to occur on October 19, 2022, subject to the satisfaction of customary closing conditions.
Berkshire Hathaway will acquire all outstanding Alleghany shares for $848.02 per share in cash.
Founded in 1929 by Oris and Mantis Van Sweringen as five railroad systems, Alleghany eventually evolved into a holding company that owns and supports certain operating subsidiaries and investments, anchored by a core position in property and casualty reinsurance and insurance. The company’s primary sources of revenues and earnings are from reinsurance and insurance operations and investments. The insurers include: Transatlantic Holdings, Inc., RSUI Group, Inc., a leading underwriter of wholesale specialty insurance based in Atlanta, Georgia, and CapSpecialty, Inc., an underwriter of a full inventory of specialty lines, including commercial property, casualty, fidelity, surety and professional lines with a focus on small business on both an admitted and non-admitted basis.
Alleghany also generate revenues and earnings from a diverse portfolio of non-financial businesses that are owned and managed through its wholly-owned subsidiary Alleghany Capital.
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 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.