Warren Buffett Invests into Electric Car Manufacturer

(EMAILWIRE.COM, February 24, 2009 ) Dallas, TX - ECOstocks.com Warren Buffett Invests into Electric Car Manufacturer

A subsidiary of Warren Buffett's Berkshire Hathaway makes a sizable $230 million investment in a Chinese battery company that develops green eco-friendly electric cars.

Warren Buffett's Bershire Hathaway and MidAmerican Energy have agreed to take a 10% position in BYD Company Limited. BYD Company Limited trades on the Hong Kong Stock Exchange BYD COMPANY (1211.HK). Established in 1995, BYD Company Limited, a Hong Kong listed company since 2002, primarily engaged in IT components and and automobile and auto parts manufacture. BYD has seven production bases in Guangdong, Beijing, Shanghai, and XiÂ’an with nearly 10 million square meters area and with offices in the United States, Europe, Japan, South Korea, India, Taiwan, Hong Kong and other regions. The Company has 130,000 employees worldwide. BYD Company Limited plans to unveil the country's China's first homegrown electric vehicle for the mass market, at least a year ahead of similar efforts around the world.

On the outside this may look like a small deal, but Berkshire Hathaway and MidAmerican Energy Holdings Company is trending to invest into green technologies that could help us reduce our global footprint.

MidAmerican Energy Holdings Company, based in Des Moines, Iowa, is a global provider of energy services. Berkshire Hathaway (Buffet's pride and joy) owns 87.4 percent of MidAmerican. Through its energy-related business platforms, MidAmerican provides electric and natural gas service to more than 6.9 million customers worldwide. These business platforms are Pacific Power, Rocky Mountain Power and PacifiCorp Energy, which comprise PacifiCorp; MidAmerican Energy Company; CE Electric UK; Northern Natural Gas Company; Kern River Gas Transmission Company; and CalEnergy.

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