PHOTO CAPTION: BYD Found Wang with David Sokol at 2009 Detroit auto show. Photo credit: EV

Sokol Plugs Investment in Electric Cars

Chairman of MidAmerican Holdings speaks of his firm's $232 million investment in Chinese electric carmaker BYD.

Published: 20-Jan-2009

By Steve Jordan

Berkshire Hathaway Inc. has a $232 million bet on an 11-year-old Chinese company, BYD Co., and Omahan David Sokol was in Detroit to help the odds.

He and Wang Chua-Fu, chairman of BYD Co., which stands for "Build Your Dreams,' touted the company's planned introduction of a plug-in electric car by 2011 using the battery technology that attracted Warren Buffett's investment.


Ray Lane, managing partner of venture-capital firm Kleiner Perkins, Caufield and Byers, which has invested in Think, believes Think could eventually sell as many as 30,000 to 50,000 City cars a year.

The production electric vehicle to be introduced in 2010 will have a unique bodystyle and is not based on any existing Nissan model, unlike the technology 'mule' pictured above.

The 100-mile range electric car has been operating with Japanese power companies for the last two years.


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