As we suspected last week, reports that Berkshire Hathaway is planning to sell its 10 percent stake in BYD have proven unfounded.  Warren Buffett, Charlie Munger, and David Sokol are in China this week and reaffirmed Berkshire’s support for BYD.  CNBC’s Becky Quick is traveling with the Berkshire executives and reported on the events taking place today in the video below.

For RSS Feed Subscribers, please click on this link for the video.  A related report by Alex Crippen of CNBC’s Warren Buffett Watch is also available.

Mr. Buffett was quoted by Bloomberg as follows:

“BYD is a young and promising company experiencing dynamic growth,” Buffett said yesterday during his first visit to the southern Chinese city of Shenzhen, where the manufacturer is based. “BYD will play a leading role in the future.”

The author of this article owns shares of Berkshire Hathaway.