Warren Buffett Invests In BYD
Source: http://www.bizchina-update.com/content/view/1407/2/Posted on Tuesday, September 30th, 2008 | In China
Contributed by: Biz China Update (http://www.bizchina-update.com) -
MidAmerican Energy Holdings Co., a subsidiary of Warren Buffett’s Berkshire Hathaway Inc., has agreed to invest HKD1.8 bn for a 10 per cent stake in China’s battery and carmaker BYD Co., American news wires report.
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As China continues to evolve into a global power, its economic structures are changing, new laws are being enacted and the government is seeking to re-channel the fruits of sustained growth from the eastern seaboard to the rest of this vast nation. Gateway cities, such as Beijing, Shanghai, Shenzhen and Guangzhou, now compete with cities across China for foreign and governmental investment.
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