"At its 2020 annual results, the company said it would stop plans for nickel-cobalt-manganese battery adoption, which most car and battery makers are set on. In

"At its 2020 annual results, the company said it would stop plans for nickel-cobalt-manganese battery adoption, which most car and battery makers are set on. Instead, BYD has turned all its attention to so-called lithium iron phosphate, or LFPs, for its so-called Blade battery, which was released early last year. Wang’s focus on LFPs is turning out to be a game-changer. It’s cheaper and more readily usable. The chemistry is far more stable than the up-and-coming NCM type that promises to take cars hundreds of kilometers further but isn’t as safe. Meanwhile, the flat Blade battery takes up less space and reduces the weight of the car, another problem automakers have had to contend with. BYD has managed to bring costs down by almost 30% and reduce the number of parts while also boosting efficiency The value of Berkshire Hathaway Inc.’s holdings in BYD Co. Ltd., one of China’s oldest makers of cars and automotive batteries, has skyrocketed this year: BYD’s share price is up almost 30%. Buffett has backed BYD for over a decade, holding around 22% in the Hong Kong-listed company, which now sits on a market capitalization of over HK$915.6 billion ($117.6 billion). That’s more than investor darling Nio Inc., the new-generation Chinese automaker listed in New York."