WARREN BUFFETT Quote : Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
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Thursday, January 14, 2010

Buffett Chinese BYD Electric Car on The Market This Year ?

Chinese automaker BYD has big plans for the United States and promises to start selling this e6 electric vehicle here this year. (Jan. 12) AP

For the second year, The Chinese company BYD promised at the annual auto show in Detroit that it will bring a plug-in, all-electric sedan to the U.S. market within 12 months.
BYD, which stands for Build Your Dreams, announced Tuesday that it plans to have its e6 sedan on sale in the U.S. in 2010.
Skeptics still have doubts and point out, for example, that BYD still doesn't have a distribution chain in place, which takes time to set up.
But BYD has a credibility asset other Chinese companies hoping to crack the U.S. market don't have: Warren Buffett as one of its lead investors. MidAmerican Energy Holdings, the utility arm of Buffett's Berkshire Hathaway, holds nearly 10 percent of BYD
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