Buffet Into Chinese Electric Future cars and Batteries

These finance guys always amaze me. Here is Warren Buffet, who of course is one of the richest men in the world, invests $230 in a Chinese future cars manufacturer. Of course, china is the up and coming industrial powerhouse, but still it takes a lot of guts because the economy there is extremely volatile.

In September, Warren Buffet invested $230 to by ten percent of BYD, a Chinese electric car and battery manufacturer. BYD could soon become a major leader in electric future cars and battery production. BYD is reportedly planning to start selling electric cars in America by the end of 2009

The electrical future car will present storage challenges which BYD may be able to answer. Our aging electric grid and our wall sockets are not equipped to deal with recharging car batteries should the electric car become mainstream. There will need to new developments such as swapping stations where cars can come in and swap batteries. Maybe this will be Buffet's new line of investment.

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