Chinese Electric Cars

China seems to be on the rise in every business sector, and the automobile industry is no different. In fact, China hopes to be the leader in electric cars, and it may do it with the backing of a quintessential American.

Legendary investor Warren Buffet bought 10% of Chinese automaker BYD is 2008 for $230 million through his company, Berkshire-Hathaway.

BYD is run by a man named Wang Chuan-Fu. "This guy," Berkshire Vice Chairman Charlie Munger told Fortune in 2009, "is a combination of Thomas Edison and Jack Welch -- something like Edison in solving technical problems, and something like Welch in getting done what he needs to do. I have never seen anything like it."

BYD has some lofty goals -- it wants to be the world's leading car company by 2025, with hybrid and electric cars dominating its sales. The company said it wants to sell some nine million green cars per year, according to

The company has presented its e6 all-electric car at auto shows in recent years. BYD says the e6 can accelerate from zero to 60 in eight seconds with a range of 160 miles before needing to be recharged.

For the past year, fifty of the vehicles have been used as taxis in the Chinese city of Shenzhen.

"This fleet of 50 e6 taxis has survived the very harsh operating conditions of hot Shenzhen summers and a very cold winter this year, and drivers and passengers alike have been extremely satisfied with their ride experience”, said BYD Senior Vice President Stella Li.

There's no word on when the car will be mass-produced for consumers.

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