Warren Buffett-Backed BYD’s First Half Profits Soar 26-Fold

BYD, Chinese battery maker and auto mobile manufacturer recently said that their half-year profits soared. This happened because the biggest car market in the world has started to recover.

On Sunday, BYD let us know that their profits started growing exponentially between the months of January through June. This happened after competition among other automakers intensified in the year prior.

Billionaire investor Warren Buffett currently owns about 10% of BYD.