MidAmerican, a unit of Buffett's Berkshire Hathaway Inc., said on Sept. 27 it agreed to invest HK$1.8 billion ($232 million) to buy about 10 percent of BYD Co., citing the parent's focus on environmental products. The U.S. billionaire was attracted by the Shenzhen, south China-based company's ``strong position'' in the development of batteries used in electric vehicles, according to JPMorgan Chase & Co. analyst Charles Guo.Battery technology is key to breaking the old "efficiency vs road performance" trade-off for electric cars. Buffet's bet signifies a major upheaval in the automotive industry and around it: car design, infrastructure, oil consumption, services, electricity generation, and etc. This is also a very good indicator that global warming can and will be avoided.
Sunday, September 28, 2008
Technology-Market revolution as it happens