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Berkshire Hathaway-backed BYD is struggling with its core car business, but other lines of work are thriving
BYD sold more electric vehicles last year than any other company except Tesla. This year, the company is having more luck selling other products—notably medical masks.
The Chinese auto maker, in which Warren Buffett’s Berkshire Hathaway owns a roughly 8% stake, said Tuesday that its net profit in the latest quarter plunged 85% year over year. That isn’t a surprise given the impact of the coronavirus outbreak on China’s already-weak car market in February and March.