BYD Rises Most in Month in Shanghai as Tax May Exclude Its Cars

BYD Co., the Chinese carmaker partly owned by Warren Buffett’s Berkshire Hathaway Inc., rose by the most in a month in Shanghai after the government said a new vehicle tax may not apply to autos using alternative energy.

China will implement a new vehicle tax law starting Jan. 1 next year, according to a statement posted to the State Administration of Taxation website yesterday. The new law will omit or reduce taxes on vehicles using alternative energy, the statement said. BYD, maker of the E6 electric car, gained 6 percent to 22.73 yuan at 2:48 p.m. local time.

To contact the editor responsible for this story: Allen Wan at awan3@bloomberg.net

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