• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 30
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Warren Buffett Praises Tesla CEO, But These EV Companies — Including One In His Portfolio — Are Still In The Game
Finance

Warren Buffett Praises Tesla CEO, But These EV Companies — Including One In His Portfolio — Are Still In The Game

May 15, 2023No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Warren Buffett Praises Tesla CEO, But These EV Companies — Including One In His Portfolio — Are Still In The Game
Share
Facebook Twitter LinkedIn Pinterest Email

Elon Musk and Warren Buffett are talented in their own right. One is a serial entrepreneur who co-founded Tesla Inc., revolutionized the electric car industry and is sending rockets into space. The other is an investing legend who has helped Berkshire Hathaway Inc. shareholders generate extraordinary returns for decades.

At Berkshire’s latest annual shareholders meeting, Buffett spoke highly of the Tesla CEO.

“Elon is a brilliant, brilliant guy,” Buffett said. “He dreams about things, and his dreams have got a foundation.”

Musk is so brilliant that even a magnate like Buffett refrains from entering the same arena as him.

“We don’t want to compete with Elon in a lot of things,” the Berkshire CEO said.

Buffett’s right-hand man Charlie Munger quickly agreed, adding “We don’t want that much failure.”

Although Tesla is a dominant player in the global electric vehicle (EV) industry, other are companies competing in this arena. Here’s a look at three of them — including one that Buffett has a stake in.

Don’t miss:

BYD Co. Ltd. (OTCMKTS: BYDDY)

Buffett’s praise for Musk came at an interesting time as Berkshire had just downsized its interest in Chinese EV maker BYD.

According to a stock exchange filing, Buffett’s company sold 1,961,000 shares of BYD on May 2. Berkshire now owns 108,340,642 shares of BYD, or 9.87% of the company.

Tesla has been making big moves in the Chinese EV market, but BYD is growing its presence as well.

In the first quarter of 2023, BYD sold 547,917 passenger vehicles, representing a 92% increase from the year-ago period. This included 264,647 battery electric vehicles (BEVs), up 85% year over year, and 283,270 plug-in hybrid electric vehicles (PHEVs), up 100% year over year.

See also  Human Smugglers March Migrants, Including Children, Across Texas Border into Path of Tropical Storm Harold

Although BYD has built a solid presence in the global EV market, its shares are not listed on U.S. stock exchanges. Investors who want to own a stake in the company must look for brokers that allow them to buy and sell over-the-counter stocks.

Ford Motor Co. (NYSE: F)

Being one of Detroit’s Big Three, Ford has consistently commanded a formidable presence in the automotive industry. And as the industry shifts from internal combustion engines to electric power, the company is also transitioning its lineup.

For instance, the Ford F-150 has long been America’s best-selling pickup truck. The company introduced an all-electric version of the truck, the F-150 Lightning, in 2021.

Ford also sells the Mustang Mach-E, a fully electric SUV that brings the company’s iconic Mustang name into the realm of electric mobility.

Ford has grouped its EV operations into a division called Model e, which it says “operates like a startup.”

While the segment has strong potential, it may not be immune to something that many startups face: losing money. Ford says that it expects “a full-year loss of about $3 billion” for Model e in 2023.

But the overall company still delivered a solid report this earnings season. In the first quarter, Ford’s revenue grew 20% year over year to $41.5 billion, while its adjusted earnings per share increased 66% to 63 cents.

NIO Inc. (NYSE: NIO)

Chinese EV manufacturer NIO gained a lot of investor attention when its stock price skyrocketed to over $60 during the meme stock frenzy in early 2021.

But shares weren’t able to maintain that upward momentum. Today, NIO trades at just under $8 per share.

See also  The Good, the Bad, and the Uncertain of Australia’s Economic Outlook

But business is still heading in the right direction. The company delivered 31,041 vehicles in the first quarter of 2023, marking a 20.5% increase year over year.

NIO offers a unique battery swap system that allows for quick and convenient battery replacement, addressing one of the main concerns with EV adoption. As of March 31, the company has deployed 1,339 Power Swap stations.

Although the stock still seems to be in the doldrums, Morgan Stanley analyst Tim Hsiao sees better days ahead. The analyst has an Overweight rating on NIO and a price target of $12, implying a potential upside of 51% from the current levels.

The Bottom Line

No doubt, EV stocks are volatile. But they still warrant investor attention as the world transitions toward cleaner energy and reduced reliance on fossil fuels.

There are many ways to capitalize on this trend. You can invest in sustainable energy startups, including one that could revolutionize the way energy to power our planet is stored.

You also can gain exposure to the segment through exchange-traded funds (ETFs) like the Sprott Energy Transition Materials ETF (NASDAQ: SETM), which provides access to a range of critical minerals necessary for the global clean energy transition.

Read next:

Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article ‘We Don’t Want To Compete With Elon’: Warren Buffett Praises Tesla CEO, But These EV Companies — Including One In His Portfolio — Are Still In The Game originally appeared on Benzinga.com

See also  PacWest stock sinks on report of sale to Banc of California

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Buffett CEO companies Game including Portfolio Praises Tesla Warren
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Chinese Companies Are Moving to Texas, Nevada To Avoid Trump’s Tariffs

May 5, 2025

‘Oracle of Omaha’: Warren Buffett Announces Retirement, Confirms Successor

May 4, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

IBM, Raytheon, and MetLife Boost Dividends

April 29, 2023

Sen. Sheldon Whitehouse’s Ethics Complaint Against Justice Alito Is A Big Deal

September 7, 2023

Jake Tapper Evokes Ruth Bader Ginsburg To Grill Dick Durbin Over Dianne Feinstein Absence

May 8, 2023

Fans Enraged over NFL Scheduling Chiefs-Dolphins Wild-Card Game Exclusively on Peacock

January 11, 2024
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Goldman Sachs Scrapping Policy That Said Company Wouldn’t Take Businesses Public That Had All White, Male Boards

February 11, 2025

Kid Rock shoots at cases of Budweiser beer in protest against company’s partnership with transgender TikToker

April 6, 2023

REPORT: New College Football Video Game Facing Lawsuit Over Player Compensation

June 21, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.