• Warren Buffett-Backed Electric Car Maker BYD Is Planning a 2022 IPO for Its Battery Business

    12 days ago - By Fortune

    BYD Co., the electric-car maker backed by Warren Buffett, plans to list its battery business by 2022 to raise funds to expand as the global auto industry transitions away from the traditional combustion engine.
    The listing will occur sometime by the end of 2022 and the company hasn't decided yet where the shares will be trading, Chairman Wang Chuanfu said in an interview with Bloomberg News Wednesday at its headquarters in Shenzhen. BYD, which makes batteries for automobiles and mobile phones, is in the process of spinning off its vehicle-battery operations into a separate company before...
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