Buffett's Berkshire continues to sell shares of Chinese electric automaker

Berkshire invested in the company in 2008 and now owns less than a 9% stake

Berkshire Hathaway, the investment company owned by Warren Buffett, continues to reduce its stake in the Chinese electric automaker BYD.

Berkshire sold 2.53 million Hong Kong-listed shares worth $86.3 million, according to a stock exchange filing.

The shares which were sold on June 19, reduced Berkshire's holdings in BYD's shares from 9.21% to 8.98%.

Berkshire has been steadily been selling shares.  The company had not sold shares in the automaker before last August.

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Warren Buffett in Omaha

Warren Buffett, chairman and CEO of Berkshire Hathaway. (AP Photo/Nati Harnik, File / AP Newsroom)

Last month, Buffett's company sold nearly 2 million shares, brining his stake to below 10%.

In February, Berkshire sold nearly 95 million of its original 225 million shares, according to a filing with the Hong Kong stock market.

That is in addition to the sale of another 4 million BYD shares.

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BYD's Atto 3 electric SUV car

BYD's Atto 3 electric SUV. ( REUTERS/Adnan Abidi / Reuters Photos)

Berkshire invested in the company in 2008, paying $232 million for a stake.

BYD sold nearly 1.9 million cars last year including pure electrics, plug-ins and hybrids.

Ticker Security Last Change Change %
BRK.A BERKSHIRE HATHAWAY INC. 604,500.00 -3,591.00 -0.59%
BRK.B BERKSHIRE HATHAWAY INC. 400.24 -3.09 -0.77%

Many investors follow Buffett's investments because of his remarkably successful track record over the years.

Reuters contributed to this report.