Buffett backs BYD's sketchy plan for U.S. electric car

摘要

SHENZHEN, China - Warren Buffett's investment plan for BYD Co. may have boosted the Chinese automaker's confidence to sell alternative-energy vehicles in the United States, but the company still lacks a detailed plan for entering the world's largest auto market. On Sept. 29, MidAmerican Energy Holdings Co., a subsidiary of Buffett's Berkshire Hathaway Inc., announced it would spend 1.8 billion Hong Kong dollars, or USD232.1 million at current exchange rates, to buy a 10 percent stake in Hong Kong-listed BYD.