BYD Fined, Factories Confiscated in Land Dispute
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BYD Co., the Chinese carmaker part-owned by billionaire Warren Buffett’s Berkshire Hathaway Inc., was fined and ordered to surrender seven factories in central China after the government said it used land illegally.
BYD will pay 2.95 million yuan ($443,000) and the factories in Xi’an, Shaanxi province, will be confiscated, the Ministry of Land and Resources said on its website today.