HONG KONG -- BYD, the Chinese automaker backed by U.S. billionaire investor Warren Buffett, is getting some love from investors after a dry spell that kicked off when the company's stock price plummeted in December.
Earlier this month, BYD announced it was selling parts unit Shenzhen BYD Electronic Components. Investors are betting the move will enhance the parent company's profitability by enabling it to focus more on developing eco-friendly cars. Also lifting the company's share price is speculation that U.S. tech giant Apple has begun developing electric vehicles and that BYD is a supplier for the endeavor.
