http://www.reuters.com/article/innovationNews/idUSTRE48Q13E20080927?sp=trueMidAmerican Energy Holdings Co, a unit of U.S. billionaire investor Warren Buffett's Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research, Stock Buzz), said it would pay $230 million for a 10 percent stake in Chinese rechargeable battery firm BYD Co Ltd to support its 'green' technologies.
The deal gives MidAmerican a foothold in the Hong Kong-listed company which is developing electric-hybrid cars it expects to start selling in China later this year and Europe by 2010.
"Mr. Wang Chuanfu has an extraordinary managerial record, and we welcome the opportunity to work with him," Buffett, the chairman and chief executive of Berkshire said in a statement, referring to the chairman of BYD.