Warren Buffett is in the driver’s seat together withWang Chuan-Fu at BYD Company Limited (BYDDF) . I own shares of this and been buying when it was $4. Warren buffet bought it for about $2 or less; he wanted to buy it more but the owner didn’t sell more. They make batteries for i-phone and have a full featured electric car, and based on how I interpret Mr Buffet’s move, these guys will be at a showroom near to you because someday he will bring them into US and into Europe before cashing out; Charlie Munger calls the CEO as combination of Edison and Jack Welch.
Who is BYD?
BYD Company Limited (BYDDF), a Chinese manufacturer of rechargeable batteries, mobile handset components, and cars. Buffet bought about 10% of this in October of last year. BYD deals with two businesses: IT manufacturing and auto manufacturing. It has production bases in several large Chinese manufacturing centers as well as in Japan, Korea, Taiwan and various emerging markets (such as Hungary and India). It is a public company and is listed on both the Chinese and Hong Kong stock exchanges.
Charlie Munger has called Wang Chuan-Fu a combination of Thomas Edison and Jack Welch. Berkshire has purchased its stake in BYD for a much cheaper price then what it is today. Browse the BYD’s annual report for 2008 for understanding more about them.
Above is a very simple summary of a potential long term play. You may want to browse the website and a take a look at financials. Bottomline, here is an idea that is still not widely noticed. If it interests you, you may want to browse internet to find more about them. I am currently long on these shares but I may change my position any time.
An electric car from BYD is to reach in a showroom near you, sooner than later,
Profitable Trading, OP