China's BYD and Germany's Daimler are creating a 50-50 "research and technology" joint venture to "develop" electric cars in China.
The JV will be called Shenzhen BYD Daimler New Technology Co. Ltd. Initial investment: $88 million.
Warren Buffett's Berkshire Hathaway owns a 10 percent stake in BYD and Buffett has personally promoted the company.
Since the investment was announced in September of 2008, BYD shares have soared almost 600 percent in Hong Kong and U.S. OTC trading.