, Columnist
Buffett’s China Ride Is Losing Power With Investors
BYD had all the advantages of an electric-car pioneer in the world’s largest auto market. It’s failed to consolidate them.
No longer charging ahead.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
It’s backed by Warren Buffett’s Berkshire Hathaway Inc., buoyed by China’s green energy policies and has a track record as a pioneer in the world’s largest car market. Surely, BYD Co. has all the ingredients of a winning electric-car maker?
Yet investors aren’t convinced. The company’s Hong Kong-traded stock has fallen more than 30 percent in the past year and even declined after BYD posted a 290 percent jump in January electric-vehicles sales from a year earlier to 28,668 units. That outpaced a 149 percent increase in China’s sales of electric and hybrid cars.