Charlie Munger convinced Warren Buffett to take a chance and invest in BYD, a battery producer transitioning to EVs, based on his impression of the founder, CEO, and chairman of BYD, Wang Chuanfu.
In the investment world, Charlie Munger is well known as Warren Buffett ’s highly successful right-hand man. The two are legends in the financial investment industry. But, naturally, Buffett gets the bulk of the praise and attention. There was one big investment that was reportedly outside the normal process for the duo, and that was Munger convincing Buffett to take a chance and invest in BYD when it was just getting rolling on its transition to EVs.
Of course, BYD had a useful base as a battery producer, but many battery producers from that era have gone under or bet on the wrong technology, and BYD’s early EV models were nothing to write home about. The linchpin was that Munger was extremely impressed by the founder, CEO, and chairman of BYD, Wang Chuanfu, and convinced Buffett that it was worth taking a risk on him. (We also interviewed Wang Chuanfu — in— and have long been deeply impressed with what he’s done at BYD, but perhaps with a little less conviction than Munger had early on about where he would take BYD nex
Charlie Munger Warren Buffett BYD Investment Evs Battery Producer Wang Chuanfu
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Charlie Munger says BYD is so far ahead of Tesla in China it's almost ridiculousCharlie Munger said Wednesday that Tesla pales in comparison to BYD in China, calling the Chinese electric vehicle maker his favorite stock ever.
Read more »
Tesla Bear Charlie Munger Talks Tesla Vs BYD In ChinaWhile the Chinese market remains an important one for Tesla bulls, some bears are betting on BYD as the future leader of the country’s auto sector.
Read more »
Tesla Bear Charlie Munger’s Bet On BYDThe Tesla vs. BYD debate has been hotly discussed on Wall Street in the past several months, especially watching the two compete
Read more »
Dr. Doom Roubini Lends Hand to Warren Buffett's Charlie Munger Against CryptoProminent crypto hater Roubini has commented on Charlie Munger's recent anti-crypto statements
Read more »
Berkshire Hathaway’s annual meeting is here: What to expect from Warren Buffett and Charlie MungerWarren Buffett is set to kick off Berkshire Hathaway's annual shareholder meeting Saturday. Here's your complete guide for the highly anticipated event.
Read more »
Warren Buffett, Charlie Munger are skeptical of A.I. hype — follow Berkshire's annual meeting hereBerkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger are presiding over the company's annual meeting. Watch for updates here.
Read more »