I can’t wait to see the BYD E6 when it’s shown off at the North American International Auto Show in Detroit next month. That this is an important car may become clear only in retrospect. BYD is the Chinese battery company now 10 percent owned by Warren Buffett, who appears eager to purchase more. And why not? BYD is vertically integrated, well capitalized, and has the size and determination to succeed with a push into the American market—scheduled for 2011.
I wouldn’t discount this company’s prospects, and it’s not surprising that Buffett and BYD Chairman Wang Chuanfu see eye to eye. Chuanfu is the single richest person in China, With a net worth of more than $5 billion. That’s impressive wealth building, because last year he didn’t even make the Top 100. But the Buffett sale did wonders for BYD’s stock price, and Chuanfu still gets to work early.
In this video (warning: much of it is in Chinese) Buffett takes a spin at the wheel of the E6 and opines that it is likely to be “enormously important for the world.”
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