ARK Invest continues to invest in the EV Sector and buys another 35,000 BYD shares

ARK Invest, led by Cathie Wood, added on Monday another 35,000 shares of the world’s second-largest electric vehicle maker, BYD. The company is now the 26th biggest holding out of 39 companies in ARK’s ETF, ARKQ. The Chinese manufacturer has now a 1.47% weight of ARKQ’s portfolio with total holdings valuing $24,534,979.98, as of March 28.

On Friday, the Fund trimmed its position on Tesla selling 145,977 shares ($147M) and initiated a position on NIO, after entering the other Chinese EVs Xpeng and BYD Co. Via ARQ ETF, Wood added 420,057 shares ($8.36M) of NIO one day after the company reported its Q4 and 2021 Earnings Results. NIO’s share price closed 9.4% lower at $19.9 a share on Friday being down 40.5% year-to-date.

Cathie Wood had bought recently nearly 65,000 BYD shares. Before that, the last time that the fund bought shares on the Warren Buffett-backed company was on November 30th, 2021, with 98,964 shares being added at a price per share of around $75.

BYD announced last week that it is building its next-generation fleets on the NVIDIA’S DRIVE Hyperion architecture. This platform, based on DRIVE Orin, is now in production, and powering a wide ecosystem of 25 EV makers building software-defined vehicles on high-performance, energy-efficient AI compute. The open DRIVE Hyperion 8 platform allows these companies to individualize this programmable architecture to their needs, leveraging end-to-end solutions to accelerate autonomous driving development.