Berkshire Hathaway-backed BYD, one the world’s leading manufacturers of new energy vehicles, has been named to the Fortune Global 500 list.
Fortune noted that BYD’s aggregate sales increase of 19% is the highest annual growth rate in the list’s history.
BYD’s high-tech enterprise encompasses a product line that includes battery electric automobiles, heavy duty electric vehicles including transit buses and Class 8 trucks, rail transit products including SkyRail, Type D and Type A battery electric school buses, material handling and new energy solutions and electronic devices.
Backed by its innovative technologies, such as the Blade Battery, DM-i super hybrid technology, and the e-platform, BYD sold 730,093 passenger vehicles in 2021, including 593,745 new energy passenger vehicles, with a YoY increase of 231.6%. In the first half of 2022, BYD sold 638,157 new energy passenger vehicles, up 324.8% YoY.
BYD and Berkshire Hathaway
In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares for $232 million. It’s an investment that has paid off handsomely. Berkshire’s original investment of $232 million had grown in value to $7.69 billion as of December 31, 2021.
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.