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Summary:

Warren Buffett continues to stock up on energy bets. Earlier this month a subsidiary of Buffett’s investment firm Berkshire Hathaway, MidAmerican Energy Holdings, agreed to acquire Constellation Energy, and this weekend it came out that MidAmerican plans to spend $230 million to buy 10 percent of […]

Warren Buffett continues to stock up on energy bets. Earlier this month a subsidiary of Buffett’s investment firm Berkshire Hathaway, MidAmerican Energy Holdings, agreed to acquire Constellation Energy, and this weekend it came out that MidAmerican plans to spend $230 million to buy 10 percent of BYD, a Chinese firm that makes next-generation batteries, electric cars and consumer electronics parts.

MidAmerican’s investment was reportedly to support BYD’s green technology investments. BYD is supposed to start selling its electric vehicles in China this year and in Europe by 2010. The news caused a jump in the shares of BYD subsidiary, BYD Electronic, which makes cell phones parts.

MidAmerican and BYD are supposed to have a news conference on Monday and provide more details. Given Buffett is widely regarded as one of the best investors of our time, we’re hoping to see a lot more alternative energy bets in the future.

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By Katie Fehrenbacher

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  1. Environmental Capital – WSJ.com : Green Ink: Buildout or Bailout? Monday, September 29, 2008

    [...] crunch. Keep an eye on Buffett—his investment in a Chinese electric-car battery maker also presages more investor interest in alternative transport, at [...]

  2. China’s Green Cars | Cleaner Greener China Sunday, October 19, 2008

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  3. Electrovaya Scores Chinese Electric Car Deals « Earth2Tech Wednesday, November 5, 2008

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  4. SAIC to Develop Hybrid and Electric Cars « Earth2Tech Wednesday, November 26, 2008

    [...] electric cars, and the company got a boost from overseas in September when investor Warren Buffett put up $230 million for a 10 percent stake. BYD is expected to start selling its electric vehicles in China next year [...]

  5. Detroit Auto Show: 5 Automakers to Watch « Earth2Tech Friday, January 2, 2009

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  6. Detroit Auto Show: 5 Automakers to Watch Friday, January 2, 2009

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  7. Detroit Auto Show: 5 Automakers to Watch | Eco Friendly Mag Saturday, January 3, 2009

    [...] DM hybrid. Over the last year, BYD has entered the green auto race in earnest, thanks in part to a $230 million investment from Warren Buffett, the launch of a plug-in hybrid (the F3DM) earlier this month, and [...]

  8. China’s Electric Cars & the Road to an Affordable EV [Earth2Tech] | BYOHosting.com Blogs Tuesday, April 14, 2009

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  9. Milestone: Chinese Automaker Signs Up for BYD Batteries for Hybrids Monday, August 17, 2009

    [...] cars comes courtesy of BYD this morning. The Chinese battery giant and newbie automaker that won investment from Warren Buffett’s Berkshire Hathaway firm last year, has snagged a battery supply deal from an undisclosed but major China-based auto [...]

  10. Milestone: Chinese Automaker Signs Up for BYD Batteries for Hybrids « Energy Portfolio Managers Blog Tuesday, August 18, 2009

    [...] cars comes courtesy of BYD this morning. The Chinese battery giant and newbie automaker that won investment from Warren Buffett’s Berkshire Hathaway firm last year, has snagged a battery supply deal from an undisclosed but major China-based auto [...]

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