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MidAmerican and Berkshire Hathaway Take 10% Stake in BYD

Posted on September 27, 2008

MidAmerican Energy Holdings Company, a Berkshire Hathaway Inc. subsidiary, will purchase 225 million shares, representing approximately a 10% interest, in China-based BYD Company Limited. BYD's corporate focus is researching, developing, manufacturing and selling rechargeable batteries (Li-ion, Nickel batteries), automobiles, electric automobiles and related products. The investment is valued at 1.8 billion HK dollars, or approximately US$230 million.The two companies will hold a joint press conference on Monday in Hong Kong.We are thrilled to be partners with BYD and the people of China. Mr. ...

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batteries , china , electric , electric vehicles , hk , hong kong , li ion