BILLIONAIRE investor Warren Buffett has discussed the possibility of raising his 10 per cent stake in car and battery maker BYD.
In the past week, analysts and investors have speculated that Buffett, who is making a closely watched tour of China with former Microsoft chairman Bill Gates, might instead sell down his stake after the automaker hit several bumps on the road.
That included sliding sales, delayed plans to export its electric cars and a legal dispute with the Chinese government over land it wants to develop.
“We wouldn’t comment on what we are going to do,” Buffett said on the sidelines of an event in Beijing when asked about the prospect of increasing his BYD stake.
BYD sources said Buffett had a closed-door meeting on Tuesday night with BYD officials in which the possibility of increasing the 10 per cent stake in BYD held by Buffett's Berkshire Hathaway was the major topic.
But it was unknown whether they had reached any conclusion.