BYD hasn’t been doing so well for months. BYD’s August sales dropped 5.9 percent from previous month and 19 percent from a year earlier, Reuters says. Just a few days ago, BYD blamed force majeure for its misfortunes: Seasonal factors, floods and mudslides had impacted sales, they said.
The company is 10 percent owned by Buffett’s Berkshire Hathaway. Now, Warren Buffet himself will come on an inspection tour. Buffet will visit BYD’s plats in Shenzhen, Beijing and Changsha at the end of this month, says Gasgoo.
The Oracle of Omaha will pay a visit to BYD’s electric sedan plant in Shenzhen and the electric bus production in Changsha. And maybe he’ll inspect the books. The Hong Kong listed company is preparing a listing of Yuan denominated A-shares in Shenzhen. Should have done it earlier.
I think the Oracle of Omaha missed on this one. BYD looks more and more like its best days are behind it.
Enjoy the giant restaurant, Warren!