okfine
Diamond Member
Charlie Munger is Warren Buffet's partner and there is a good story behind their relationship with the auto manufacturer BYD, who is now the largest EV seller in the world at the moment.
Wang Chuanfu was involved in the Tiananmen Square incident in China. After that happened, he sought refuge in the French Embassy in Hong Kong. He started off making rechargeable and cell phone batteries.
"Founded in February 1995[8] and listed on the Hong Kong Stock Exchange on 31 July[13] 2002,[14] BYD Co Ltd began as a rechargeable-battery factory competing in the Chinese market against Japanese imports.[11]"
"In 2022, it was claimed in a news report that BYD surpassed Tesla for the world's most electric vehicle sales.[15] This claim is based on BYD sales figures that include over 300,000 plug-in hybrid vehicles sold in the first six months of 2022. Plug-in hybrids with internal combustion engines are not fully electric vehicles.[16]"
He (Wang) was introduced to Munger by Ron Olson, president of the law firm MTO (Munger Tolles and Olson)
Aside from that, BYD has electric busses operating in the US.
www.greencarreports.com
"Charlie Munger, the right-hand man of Warren Buffett, still thinks his 2008 decision to get Berkshire Hathaway to invest in budding Chinese carmaker BYD—now the world’s top-selling EV brand—was one of the best decisions he’s ever made"
The story behind all that was (initially) Munger, Buffet and Olson told Wang it was a bad idea. Now it's not so bad as BYD is a huge success.
fortune.com
en.wikipedia.org
Wang Chuanfu was involved in the Tiananmen Square incident in China. After that happened, he sought refuge in the French Embassy in Hong Kong. He started off making rechargeable and cell phone batteries.
"Founded in February 1995[8] and listed on the Hong Kong Stock Exchange on 31 July[13] 2002,[14] BYD Co Ltd began as a rechargeable-battery factory competing in the Chinese market against Japanese imports.[11]"
"In 2022, it was claimed in a news report that BYD surpassed Tesla for the world's most electric vehicle sales.[15] This claim is based on BYD sales figures that include over 300,000 plug-in hybrid vehicles sold in the first six months of 2022. Plug-in hybrids with internal combustion engines are not fully electric vehicles.[16]"
He (Wang) was introduced to Munger by Ron Olson, president of the law firm MTO (Munger Tolles and Olson)
Aside from that, BYD has electric busses operating in the US.
BYD has made more electric buses in the US than anyone else—and it hasn’t given up on cars
China's BYD has focused on electric buses and trucks in the U.S.—and it's delivered more electric buses than any other maker so far.
"Charlie Munger, the right-hand man of Warren Buffett, still thinks his 2008 decision to get Berkshire Hathaway to invest in budding Chinese carmaker BYD—now the world’s top-selling EV brand—was one of the best decisions he’s ever made"
The story behind all that was (initially) Munger, Buffet and Olson told Wang it was a bad idea. Now it's not so bad as BYD is a huge success.
Munger says BYD success vs. Tesla is ‘almost ridiculous’ | Fortune
Berkshire Hathaway bought a stake in BYD—now the world’s top-selling EV brand—in 2008.
