BYD shares, the Chinese EV car company, fell as much as 3.6%, its biggest daily drop in three weeks and became the weakest counter in the listed Chinese stock index.
CNBC reported that Berkshire has completely exited the holding, with a company spokesperson confirming the matter.
Berkshire Hathaway Energy filings showed the value of its investment in BYD at zero as of March 31. Buffett began buying 225 million shares in September 2008, which jumped more than 4,500% through March of this year.
BYD, which started as a mobile phone battery manufacturer, is now China's largest maker of electric and hybrid vehicles.
However, since mid-2022, Berkshire has been gradually reducing its holdings and it fell below 5% last year, and is no longer required to disclose new sales to the Hong Kong Stock Exchange.
BYD's share price has fallen about 30% from its all-time high four months ago, driven by concerns about fierce competition and price wars in China's electric vehicle market.
In a statement on Weibo, Li Yunfei, General Manager of Branding & Public Relations of BYD said they are grateful to Munger and Buffett for their recognition of BYD and their support and friendship for 17 years.
However, Berkshire has not provided any further comment so far.
