Electric-car maker BYD sells $3.9 billion in stock after Tesla-led rally quintuples prices
Electric-car maker BYD sells $3.9 billion in stock after Tesla-led rally quintuples prices Ben WinckJan 21, 2021, 21:47 IST Geng Guoqing/VCG/Getty Images Chinese electric-car maker The automaker - backed by legendary investor Warren Buffett - has seen shares surge more than 400% as investors pile into the futuristic sector. BYD plans to use the funds to pay down debts and strengthen its position in China's exploding EV market. BYD - the Chinese automaker backed by legendary investor Warren Buffett - sold $3.9 billion in shares after outsized demand for electric-vehicle stocks saw the firm's...
Source: businessinsider.in