- Taking On Dr. Doom: Warren Buffett's 'Buy and Hold' Strategy Is Alive and Well
- Berkshire Hathaway Shares Bounce Back Above $100,000
- Buffett's Bank Bets "Paying Off" - Bloomberg
- Warren Buffett Tops Business Week's Ranking of American Philanthropists
- Warren Buffett Promises More Info On Berkshire's Derivatives In Annual Report
- Barron's: Berkshire Hathaway's Stock Price Plunge Finally Makes It "Cheap" Again
- Berkshire Hathaway Bounces Back By 16% For Best Day In Decades
- Berkshire Hathaway Subsidiary Keeps Coachmen Alive By Acquiring RV Business
- USG Shares Soar On Warren Buffett's "Expression of Confidence"
- Warren Buffett on Market Meltdown: It's Happened Before And It's Been Even Worse
- BofA and Merrill Job Cuts Could Now Reach 30,000
- Small Players Vie for ‘Green Car’ Loans
- Bailout Monitor Sees Lack of a Coherent Plan
- Pros: Searching the Gloom ... Bright Spot in Japan
- Putting a Value on a C.E.O.
- Where the Layoffs Are—Is Your Firm on the List?
- Treasurys Mostly Higher Despite Stock Gains
- BofA to Cut 10,000 Investment Banking Jobs
- GE to Maintain Dividend, Streamline Finance Arm
Text Size 
Shares of Chinese battery maker and 'green' car maker BYB Company Limited soared 42 percent today in Hong Kong trading, after this weekend's announcement that Warren Buffett is investing in the company.
 |
BYD Auto's F0 model |
Berkshire's MidAmerican Energy Holdings is getting its 10 percent stake for even less than Friday's close: just HK$8 each for 225 million newly issued shares. It will pay a total of HK$1.8B, or 230 million in U.S. dollars.
WBW Post: Warren Buffett Invests In Chinese Company Developing 'Green' Cars
MidAmerican Chairman David Sokol becomes a non-executive director on the BYD board.
According to Reuters, Sokol told reporters in Hong Kong today that Buffett's stake could go even higher. "We are thrilled to make an additional investment, if it makes sense, with BYD."
Bloomberg reports that at the news conference, Sokol said his company and BYD will cooperate on developing batteries to store energy generated by wind and solar collectors.
Merrill Lynch analyst Daniel Kim is quoted as saying, "The rationale behind this investment is BYD's unique exposure to both lithium-ion battery as well as its related hybrid electric vehicle business... HEV market growth is exploding."
BYD plans to sell hybrid automobiles in the U.S. and Europe, as well as China.
Current Berkshire stock prices:
Class A: [US;BRK.A
Loading...
()
]
Class B: [US;BRK.B
Loading...
()
]
Questions? Comments? Email me at
Del.icio.us
Digg It
Data is a real-time snapshot *Data is delayed at least 15 minutes