Warren Buffett's bet on a Chinese electric car company is generating sparks.
Bloomberg notes that Berkshire Hathaway's stake of almost 10 percent in BYD has soared in value by about $1 billion since it was first announced last fall.
The purchase was completed today at the September price after the China Securities Regulatory Commission gave its approval for the deal.
When Berkshire's MidAmerican Energy Holdings agreed last fall to make its $230 million investment in BYD, the Chinese company was trading just over HK$8 in the Hong Kong market.