By staff reporter Ouyang Changzheng
"We are thrilled to be partners with BYD and the people of China," said Buffett in a statement.
According to the agreement,
adidas foot, MidAmerican Energy will buy 225 million of BYD's Hong Kong listed shares,
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MidAmerican Energy Holdings Co., a subsidiary of U.S. billionaire Warren Buffett's Berkshire Hathaway Inc.,
franklin et marshall, has announced plans to invest US$ 231 million in BYD Co. (HKSE: 01211). It’s hoped the move will provide MidAmerican with a foothold in China's rechargeable battery market.
Wang Chuanfu,
louboutin pas cher, chairman of BYD, said that the partnership with MidAmerican would help BYD's products and technologies reach deeper into the global market.
According to the company's first-half financial reports, BYD's first-half profit was 596 million yuan, down 7 percent on the same period last year. The company blamed the decrease on rising material costs and declining sale due to the global economic slowdown. -->
As China's largest maker of battery and electric vehicles,
adidas f50, BYD is planning to sell hybrid cars in the U.S. as early as 2010,
chaussure louboutin pas cher, and will roll out its first all-electric auto in China next year.
David Sokol, MidAmerican Chairman, said that "as worldwide discussions relating to global climate change and environmental respect continue,
franklin marshall, the technologies being developed by BYD will be an integral part of the future."
A subsidiary of Warren Buffett's Berkshire Hathaway will buy 225 million shares of China's largest battery maker,
adidas football chaussures, BYD.
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