Charlie Munger says BYD is so far ahead of Tesla in China

Charlie Munger says BYD is so far ahead of Tesla in China- Check out in detail

[{"selector":"#anim-e090cd08-7d7c-4f10-baf8-c246a92a0522 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Charlie Munger said Wednesday that Tesla pales in comparison to BYD in China, calling the Chinese electric vehicle maker his favorite stock ever. Arrow

BYD has been a lucrative bet for Berkshire, which first bought about 220 million shares in September 2008.

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The stock has jumped more than 600% in the past 10 years amid the massive growth in electric vehicles.

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Berkshire has actually been trimming its BYD stake in the past year as the stock has become increasingly pricey.

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[{"selector":"#anim-65992d64-3f3f-4882-a3d0-b0c136b47264 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.246337776828504%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Munger, Berkshire’s vice chairman and a Daily Journal board member, credited Li Lu, founder of Seattle-based asset manager Himalaya Capital, for introducing him to BYD. Arrow

Munger also said BYD CEO Wang Chuanfu is unusual, calling him a genius and a workaholic.

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BYD recently said it expects record adjusted annual profit for 2022 of 16.3 billion yuan ($2.4 billion), about 1,200% above 2021.

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