New Hybrid Car Debut in China: Buffet and Investor

“Battery maker turned car company BYD Co. has launched China’s first homegrown hybrid vehicle for the retail market, seeking an edge over its crisis-stricken international rivals.

…The vehicle can run up to 100 kilometers (62 miles) on its electric engine, and when it runs low on power shifts to a back up gasoline engine. Its battery can fully charge in nine hours from a regular electrical outlet, or much faster at BYD’s own charging stations, the company said in a statement.

The car will sell for 149,800 yuan ($22,000), about the same as many Chinese-made mid-sized cars, it said.

…MidAmerican Energy Holdings Co., a unit of Warren Buffett’s Berkshire Hathaway Inc., invested in a 9.9 percent stake in the company.”

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