BYD to sell electric car in US in 2010

BYD, the upstart Chinese car company backed by US investment guru Warren Buffett, said on Monday that it would start selling its e6 all-electric sedans in the US next year, a year ahead of schedule.

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Announcing in Hong Kong that the company had nearly doubled first half net profits from a year earlier, Wang Chuanfu, BYD’s chairman, also said he was considering selling more shares to Mr Buffett.

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MidAmerican Energy Holdings, a unit of Mr Buffett’s Berkshire Hathaway, bought a 10 per cent stake in BYD last September. “MidAmerican has always intended to raise its stake in BYD because it has confidence in the company’s prospects,” Mr Wang said, but added “we are still considering (whether to sell more)”.

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