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Why Warren Buffett is investing in electric car company BYD - Apr. 13, 2009

Tony Karrer Delicious EVdriven

A chemist and government researcher, Wang raised some $300,000 from relatives, rented about 2,000 square meters of space, and set out to manufacture rechargeable batteries to compete with imports from Sony and Sanyo. Wang entered the automobile business in 2003 by buying a Chinese state-owned car company that was all but defunct.

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Buffett's Chinese electric car company

Tony Karrer Delicious EVdriven

It was started by a chemist and government researcher named Wang Chuan-Fu in 1995 (same year as Yahoo) to make rechargeable batteries, which it learned to do very well. Then Mr. Wang, as he’s known, got into the automobile business by buying a failing state-owned carmaker.

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