(BRK.A), (BRK.B)
While Tesla struggle to manufacture 2,000 Model 3 cars a month, Chinese new energy company BYD sold 13,000 of its plug-in electric cars in March.
The sales mark an increase of 116% year-over-year, and were 31% of the total BYD car sales for the month.
BYD is aiming to sell between 15,000 and 20,000 cars per month when its new model year debuts. The number is not unexpected, as the company sold 15,873 plug-in electric cars in December 2017.
BYD was number one worldwide in plug-in electric vehicle sales in 2017, its third consecutive year.
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 of future results.