Berkshire Hathaway Inc has increased its stake in Pilot Travel Company, operator of Pilot and Flying J travel centers. BRK now owns 80% of the company as of January 2023. Berkshire first bought a 38.6% in Pilot stake back in October 2017.
Pilot Travel Company is the largest operator of travel centers in North America, with more than 750 locations across the U.S. and Canada. Millions of people stop at their service locations for food, gas, rest, shower, and more.
Berkshire has a significant transportation portfolio. They own train, trucking, and private jet businesses. They have been making plans to transition to cleaner energy sources.
Pilot Travel Company has partnered with General Motors to install 2,000 charging stations across America by 2026. Pilot also partnered with Volvo to provide charging points for electric trucks.
Warren Buffett also owns a stake in Chinese EV maker, BYD.
Berkshire Hathaway initially purchased its BYD stake in 2008, acquiring 225 million shares for about $232 million. In late 2021, Berkshire owned about 21% of BYD, according to Hong Kong regulatory filings, worth more than $7 billion dollars at its peak last year.
Now, Buffett is taking profits as the company sees great success in China with its affordable priced electric and hybrid vehicles. In 2022, BYD sold nearly 2 million vehicles and bested Tesla in sales volume within the Chinese market.
Business Insider
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Source: Yahoo & Business Insider