Tuesday, April 8, 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

Engine from Denmark is the world's most powerful in a street car

The Mjolner engine that will go into the new...

Burns up – 130 electric cars must be scrapped immediately

Expensive Jaguar I-Pace ends up as scrap in Norway...

Sweden lowers gasoline price to below 10 kroner

A liter price of less than 10 Danish kroner....

Another car company stops all exports to the US

First Volkswagen withdrew, and now the JRL group is...

Volkswagen panics – stops immediately

Volkswagen is immediately halting the delivery of all cars...
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

Engine from Denmark is the world's most powerful in a street car

The Mjolner engine that will go into the new Zenvo Aurora is the most potent 12-cylinder engine ever put into a street car. Mjolner...

Car group forced to borrow 13 billion kroner

The new tariffs in the US are hitting Kia/Hyundai so hard that the car group is now forced to borrow 13.6 billion kroner from...

Porsche appoints 18-year-old Lærke Ronn as new talent

Lærke Ronn will drive the 500 hp Porsche GT4 RS in 2025 and is now part of Porsche Motorsport's official talent program in Scandinavia...

Danish Frederik gets rare chance in Formula 1

Danish Mercedes reserve Frederik Vesti gets behind the wheel of George Russell's car during the first practice session for the Bahrain Formula 1 Grand...

BMW owner won – now Tax owes him 73,000 kroner

A Polish BMW owner has just won against the Danish Tax and Motor Agency, which thought he should cough up 500,000 kroner in registration...

Honda fires CEO immediately after scandal

Honda's second-highest-ranking executive, Shinji Aoyama, has been immediately fired from the car brand after he was linked to 'inappropriate behavior'. Honda's second-in-command, Vice President...

China's exports of electric cars are now plummeting

China still can't force Europeans to switch to electric cars. And now the latest export figures for electric cars show that sales in our...

FDM is furious: New rule kills these cars in Denmark

Updated emission measurement regulations from the EU are killing plug-in hybrids in Denmark. At least that's what FDM thinks. New EU regulations are putting...

Has 37,000 cars in stock – brand prohibits exports to the US

Following Volkswagen, its sister brand Audi is now responding to the increased tariffs in the US. This means that all exports to the country...

Sweden lowers gasoline price to below 10 kroner

A liter price of less than 10 Danish kroner. That is now the reality in Sweden. Fuel prices have plummeted recently due to an...

Nio flopped in Denmark – now CATL wants to focus on battery replacement again

China's largest battery manufacturer will buy Nio Power and focus on battery swapping, despite previous failures in Denmark with both Better Place and Nio's...

Tesla removes battery upgrade for Cybertruck without notice

The expensive Range Extender option for the Tesla Cybertruck is now gone from Tesla's website, leaving buyers with uncertainty and non-refundable deposits. Tesla has...