Xiaomi Recalls 117K EVs Over Fatal Software Flaw; Berkshire Exits BYD After 30x Gains; World's First Methanol Dual-Fuel Vessel Visits Hong Kong
Chinese electric vehicle (EV) manufacturer Xiaomi has announced a significant recall of nearly 117,000 SU7 models due to critical flaws in their driver-assistance software, following a fatal accident. Meanwhile, Berkshire Hathaway, led by legendary investor Warren Buffett, has exited its 17-year investment in Chinese EV giant BYD. This move comes after a successful tenure that saw Berkshire Hathaway's investment grow by over 30 times. In a separate development, the world's first methanol dual-fuel-powered car carrier vessel has made a historic visit to Hong Kong on its maiden voyage to Europe.
The recall by Xiaomi is a serious setback for the company, which has been rapidly expanding its EV division. The issue lies in the driver-assistance software, which has been found to malfunction in certain conditions, leading to a fatal accident. Xiaomi has stated that it will replace the software in all affected vehicles free of charge. This incident serves as a stark reminder of the importance of safety features in EVs and the need for rigorous testing.
In other news, Berkshire Hathaway has liquidated its holdings in BYD, marking the end of one of Warren Buffett's most successful investments. Buffett's decision to exit the investment after 17 years was a strategic one, influenced by shifting investment priorities and market conditions. Despite the exit, Berkshire Hathaway Energy officially marked the BYD stake at zero value as of March 2025, indicating that the company still holds a positive view of BYD's prospects. The investment generated a more than 30-fold increase for Berkshire Hathaway, highlighting Buffett's keen eye for long-term opportunities.
In maritime news, the world's first methanol dual-fuel-powered car carrier vessel, the 'Fure Vinga', has made a historic visit to Hong Kong. The vessel, which can run on both methanol and conventional fuel, is on its maiden voyage to Europe. This visit marks a significant milestone in the global shift towards cleaner maritime fuels. The vessel's innovative design is expected to reduce emissions by up to 90% compared to conventional vessels, contributing to the shipping industry's goal of reducing its carbon footprint.
The recall by Xiaomi underscores the importance of safety in the rapidly evolving EV market. Meanwhile, Berkshire Hathaway's exit from BYD, while ending one of Buffett's most successful investments, does not reflect negatively on the company. Instead, it highlights the dynamic nature of investment strategies. Lastly, the visit of the 'Fure Vinga' to Hong Kong is a testament to the progress being made in the global transition to cleaner maritime fuels.
