Warren Buffett’s Berkshire Hathaway fund will raise its investment in Chinese electric car and battery maker BYD, according to the New York Times. A Berkshire unit last purchased 10 percent of BYD stake for $230 million in September, but the new acquisition represents continued interest in what Buffett evidently considers a solid company. “[Berkshire subsidiary MidAmerican] has always intended to raise its stake in BYD because it believes BYD has good prospects in the development of renewable energy, but we are still considering [whether to sell more],” said BYD Chairman Wang Chuanfu yesterday.
Buffett Ups Stake in BYD
Warren Buffett is set to boost his investment fund’s stake in a Chinese electric car maker.
September 1, 2009