(Yicai Global) May 9 -- BYD, China’s top-selling electric car maker, has denied rumors that employees at its factories in Changsha central Hunan province are “queueing up to quit,” Chinanews reported yesterday.

BYD’s Changsha facilities are hiring staff as usual, the report said, citing the Shenzhen-based auto manufacturer. Orders and sales are healthy and the firm’s market share continues to climb.

Employees at two of BYD’s factories in Changsha are “lining up to resign” and the “quota for resignations is already used up,” according to recent online rumors.

But despite the rumored employee discontent, sales continue to rocket. BYD’s NEV sales more than doubled in April from a year ago to 106,042 units. And in the first four months, sales nearly quintupled to 392,371 units.

Meanwhile, US tycoon Warren Buffett continues to pare his stake in the EV maker. On May 2, Buffett’s investment firm Berkshire Hathaway trimmed its holdings in the firm’s Hong Kong-traded stock to 9.87 percent from 10.05 percent, cashing in HKD462 million (USD59 million). The Nebraska-based firm has more than halved its holdings in BYD since August last year, when it held 19.92 percent, in 11 separate sell-offs.

BYD’s share price [HKG:1211] closed down 0.9 percent at HKD237.80 (USD30.30) today.

Editor: Kim Taylor