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.
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.