Buffett to display BYD's vehicle in May's meeting
OMAHA, Nebraska — Chinese automaker BYD will make a significant step into the U.S. auto market on May 2, when it shows off one of its electric cars at the annual meeting of Berkshire Hathaway. Warren Buffett, the billionaire CEO of the company, extended the invitation to BYD, to display a product at what has come to be known reverentially as the "Woodstock for capitalists."
Berk
shire Hathaway does not specifically list BYD's appearance on the schedule of events on its rather comprehensive Web site (it informs shareholders of such minutiae as the locations of nearby Dairy Queens). However, the news was released by Xinhua, the official Chinese news agency.
It is not yet certain which of BYD's electric vehicles will be on display. Xinhua says it "could be [BYD's] F3DM or E6 model."
Buffett acquired a nearly 10 percent stake in BYD in 2008, said to be his first investment in a Chinese company.
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