(BRK.A), (BRK.B)
BYD (Build Your Dreams), a world leader and pioneer in battery and zero-emission vehicles, has announced plans to list its battery unit by 2022.
The company did not specify the exchange it would be listed on.
The move, which was reported by Reuters out of Beijing, comes roughly six months after BYD opened the world’s largest battery manufacturing plant in the western province of Qinghai. The plant is designed to keep up with the demands of a company that has become the world leader in battery powered cars.
The facility has commenced manufacturing batteries, but the entire facility will not be fully completed until the end of 2019.
The plant opened with a manufacturing capacity of 24 GWh, and BYD aims to increase its total manufacturing capacity to 60 GWh by 2020.
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.