Thursday, April 3, 2025

World-renowned investor sells out of BYD to buy oil

The world-renowned investor Warren Buffett, via his investment company, has reduced his stake in BYD in order to release funds for investments in an oil company.

The world-renowned investor Warren Buffett is probably 93 years old. But there is still a bright head on the elderly American.

Most recently, he has announced via his investment company Berkshire Hathaway that he is reducing his stake in Chinese BYD. Buffet has owned up to 20.5 percent of the brand.

CNN writes that.

Buffett is reducing his involvement in the company immediately after the EU imposed a punitive tariff of up to 38 percent on electric cars from China. Read more about it here .

Warren Buffet's right-hand man, the now-deceased Charlie Munger, has previously described precisely BYD as the 'best investment ever'. Primarily because the brand 'is so far ahead of Tesla in China that 'it's almost ridiculous'.

READ ALSO: Tesla owner exposed by ex-wife – must pay DKK 700,000

On Tuesday this week, it emerged that Buffett, via the investment company, has bought up the American oil company Occidental Petroleum instead of BYD shares.

An investment which secures the 93-year-old American 29 percent of the company. However, it is far from being Buffett's first investment in the energy sector. In the oil industry alone, he owns shares in the oil giant Chevron and his own Berkshire Energy.

However, Warren Buffett is not completely out of BYD country. The man known for a diet of ice cream and Coke still owns 6.9 percent of the world's second-largest electric car maker.

At home, the Danish BYD importer Nic can. Christiansen notes that in the first quarter of 2024 there were 714 registrations. Among other things. because the brand has won several municipal tenders for cars for home care.

However, even the same importer is not sure that all Chinese car brands will survive in Denmark. Read more about it here .

Read more exciting news from and about the world of cars right here!

Latest

Don't miss

Tesla stops sales of Model S and Model X

According to Car Advisor, Tesla has told its Japanese...

The first Tesla Model Y Juniper has already been smashed

Traffic accidents happen. Even for brand new cars. Tesla...

Disappeared in Denmark – now they have lost 6 billion

Nio, which last year fired its Danish CEO and...

BMW to launch 40 new cars in the next 3 years

At BMW in Munich, employees are getting busy, if...

Wants to go to Denmark – car brand plummets after fatal accident

Chinese Xiaomi plans to sell its cars in Europe,...
Boosted Magazine
Boosted Magazine
Boosted in Denmark has over a million unique users, surpassing two million sessions, and accumulating over seven million page views each month, and our platforms has become a hub for automotive enthusiasts. Now you can enjoy our content in English too! Enjoy our free car news - every day. Want to talk to us? Write an email to boosted@boostedmagazine.com
spot_img

Tragic: Burning electric car kills 2 firefighters

In the Spanish capital Madrid, two firefighters have been killed while battling a burning electric car. The fire service is warning of an enormous...

Environmental disaster: Millions of car tires are burned

Although car owners pay to have their used tires disposed of, it now turns out that 25 million tires are burned in India. Millions...

BMW mocks Tesla – can you see how?

First Kia, then Polestar, and now BMW joins the ranks of car brands that can't help but take a swipe at Tesla. Can you...

Revealing sad news – Michael Schumacher has lost

The public knows very little about Michael Schumacher's condition following a skiing accident in France almost 12 years ago. Now there is sad news....

Elon Musk leaves the White House – will return to Tesla

The dialogue between Elon Musk and Donald Trump appears to be over. At least the closest one. The Doge division, which the billionaire heads,...

Tax Minister: Advantage of removing registration tax

Tax Minister Rasmus Stoklund (S) now acknowledges that it is an advantage to remove the registration tax on electric cars. The question is whether...

Only 3 percent of new cars in Denmark run on diesel

Since Volkswagen ruined the reputation of diesel cars with dieselgate, sales of diesel cars have plummeted, and are now down to 3 percent in...

Volkswagen ID.7 drops 67,000 kroner in price

Volkswagen is now trying to boost sales of the electric Passat, ID.7, by reducing the price by a whopping 67,000 kroner in the Netherlands....

New Schumacher? Ferrari signs contract with 13-year-old boy

They are getting younger and younger. Also in motorsport, where Ferrari's Formula 1 team believes so much in Englishman Noah Baglin that the brand...

17 cars burned down at Tesla dealership in Rome

Police in the Italian capital Rome are investigating a fire that destroyed 17 Tesla cars. Drone footage shows the destroyed cars. On Monday night,...

New test debunks long-standing myth about electric cars

It's a myth that electric cars are always the cheapest. Yet many drivers believe that driving on electricity is almost free compared to gasoline....

Tesla crisis: Should Tom Zhu replace Elon Musk as CEO?

Falling shares, vandalism and criticism have investors demanding new Tesla leadership. Tom Zhu from Tesla in China is now mentioned as a realistic candidate....