Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[To Chuanfu! Thanks for Everything, Warren Buffett]]>http://www.autoblog.com/2009/10/02/to-chuanfu-thanks-for-everything-warren-buffett/http://www.autoblog.com/2009/10/02/to-chuanfu-thanks-for-everything-warren-buffett/http://www.autoblog.com/2009/10/02/to-chuanfu-thanks-for-everything-warren-buffett/#commentsFiled under: , ,



Wang Chuanfu (above), the founder of Chinese battery manufacturer and automaker BYD is reportedly the richest man in all of China. Already a wealthy man, Bloomberg reports that Chuanfu has jumped a startling 102 places to land himself atop Hurun Rich List, an annual wealth index chronicling the country's richest people.

How did this happen? Chuanfu made nice with "The Oracle of Omaha" Warren Buffett, and the investor has paid him back - handsomely. The iconic businessman's Berkshire Hathaway Inc. took a 10% stake in BYD this year, and the stock feeding frenzy that resulted pushed Chuanfu's personal wealth from a piffling $880 million up to a get-Robin-Leach-on-the-horn $5.1 billion. Buffett himself pocketed a billion from the relationship in short order, too.

Of course, Bloomberg notes that it also helps that BYD's F3 sedan has become China's best-selling automobile this year, and presumably the demand for high-capacity rechargable batteries for everything from phones and laptops to hybrid autos isn't going anything but up.

Either way, we wouldn't be surprised to learn that Chuanfu plans on repaying Buffett's favor come holiday season by sending him the mother of all fruit baskets.

[Source: Bloomberg | Image: Bill Pugliano/Getty]

To Chuanfu! Thanks for Everything, Warren Buffett originally appeared on Autoblog on Fri, 02 Oct 2009 18:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BYDBYD B3BYD batteriesBydB3BydBatteriesChinachinese automakerChineseAutomakerchuanfuoracle of omahaOracleOfOmahaWang ChuanfuWangChuanfuWarren buffettWarrenBuffettFri, 02 Oct 2009 18:29:00 EST<![CDATA[Warren Buffett reportedly rakes in $1B profits on BYD in less than one year]]>http://www.autoblog.com/2009/08/04/warren-buffett-reportedly-rakes-in-1b-profits-on-byd-in-less-than-one-yea/http://www.autoblog.com/2009/08/04/warren-buffett-reportedly-rakes-in-1b-profits-on-byd-in-less-than-one-yea/http://www.autoblog.com/2009/08/04/warren-buffett-reportedly-rakes-in-1b-profits-on-byd-in-less-than-one-yea/#commentsFiled under: , , , , ,

2009 BYD F3DM - Click above for high-res image gallery

You don't get to hold the title of The Richest Person in the World - a title oft-owned by either Bill Gates or Warren Buffett at any given time - without knowing how to make sound financial decisions. While not all of Warren Buffett's investments end up raking in tons of money, his procurement of a ten-percent stake in Chinese automaker BYD less than one year ago has already earned his Berkshire Hathaway Inc. some $1 billion.

Driving the rapid rise in BYD's value are its investments in hybrid automobiles like the plug-in F3DM and, even more importantly, high-tech lithium iron phosphate batteries. A recent partnership with Volkswagen and possible tie-ups with Ford and others have proven the worth of that energy storage technology for automotive use and the company is already China's largest producer of rechargeable batteries for portable electronics.

BYD Chief Executive Officer Wang Chuanfu has publicly stated his company's plan to more than double global sales this year with new models and additional export deals, which could include the United States as early as 2011. With all of this in mind, it shouldn't come as a surprise that Buffett bolstered his investment Sunday night by acquiring an additional 225 million shares of BYD stock.


Gallery: 2009 BYD F3DM plug-in hybrid


[Source: Bloomberg]

Warren Buffett reportedly rakes in $1B profits on BYD in less than one year originally appeared on Autoblog on Tue, 04 Aug 2009 10:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>berkshire hathawayBerkshireHathawaybydbyd autobyd e6byd f3byd f3dmbyd f6BydAutoBydE6BydF3BydF3dmBydF6greenwarren buffettWarrenBuffettTue, 04 Aug 2009 10:01:00 EST<![CDATA[Warren Buffet invests $300m in Harley-Davidson]]>http://www.autoblog.com/2009/02/04/warren-buffet-invests-300m-in-harley-davidson/http://www.autoblog.com/2009/02/04/warren-buffet-invests-300m-in-harley-davidson/http://www.autoblog.com/2009/02/04/warren-buffet-invests-300m-in-harley-davidson/#commentsFiled under: ,

Harley-Davidson has announced that Warren Buffet's Berkshire Hathaway group will invest $300 million in the motorcycle maker by through a purchasee of senior unsecured notes that will mature in 2014. These funds match a similar investment by Davis Selected Advisers, L.P., which is already the largest holder of company stock. Harley-Davidson will use the money to bolster its lending services, hopefully making it easier for the trouble motorcycle maker to lend cash to consumers. Berkshire Hathaway will reportedly receive a hefty 15% annual interest rate on the investment.

The markets have responded to the news rather favorably, with H-D shares hitting $13.56 in trading yesterday afternoon - a 14% increase from where they started the day. Just about a week ago, H-D announced a plan to shed 10% of its workforce. This move marks the first time that Buffet has ever invested in the company.

[Source: Bloomberg]

Warren Buffet invests $300m in Harley-Davidson originally appeared on Autoblog on Wed, 04 Feb 2009 09:00:00 EST. Please see our terms for use of feeds.

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Everyone's broke. Gas prices keep rising and falling. America's three largest manufacturers of recreational vehicles are losing money like their pockets are full of holes. Perfect time to invest.

Well, it is if you're Warren Buffett, the richest man in the world, who has made an art out of "buy low, sell high." Through his holding company Berkshire Hathaway, the Texas-based legendary Omaha investor has invested some $40 million in Middlebury, Indiana's Coachmen Industries, makers of the Viking line of motor homes. The move is diametrically opposed to that of fellow American investor Kirk Kerkorian, who is rapidly divesting from America's automakers. Prospects in the RV market hardly look any better than Detroit's - projections place sales next year at their lowest in 18 years - but sooner or later, they'll recuperate. You can bank on that...Warren Buffett certainly is.

[Source: Edmunds Auto Observer | Image: Alex Wong/Getty]

World's Richest Man invests in RVs originally appeared on Autoblog on Tue, 06 Jan 2009 08:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buffettcoachmencoachmen industriesCoachmenIndustriesrecreational vehicleRecreationalVehiclervRVsvikingwarren buffettwarren buffett coachmen industrieswarren buffett vikingWarrenBuffettWarrenBuffettCoachmenIndustriesWarrenBuffettVikingTue, 06 Jan 2009 08:31:00 EST<![CDATA[Warren Buffet recharges his batteries with investment in BYD]]>http://www.autoblog.com/2008/10/01/warren-buffet-recharges-his-batteries-with-investment-in-byd/http://www.autoblog.com/2008/10/01/warren-buffet-recharges-his-batteries-with-investment-in-byd/http://www.autoblog.com/2008/10/01/warren-buffet-recharges-his-batteries-with-investment-in-byd/#commentsFiled under: , ,



Chinese battery manufacturer BYD can now be mentioned in the same breath as Goldman Sachs: both have recently been given the blue-chip imprimatur by U.S. billionaire investor Warren Buffet. The Oracle of Omaha's MidAmerican Energy Holdings has bought a 10-percent stake in BYD for $230 million.

BYD has big plans for its lithium-ion battery work and its automotive division. The company's automaking arm builds - or clones, depending on your viewpoint - cars that it intends to eventually export around the world, including America. Its ultimate aim is create its own cars that run on its own batteries, like the e6. Assuming that BYD gets the batteries to work, and then can sell them to other automakers, the company will have a huge competitive advantage. If it can sell its cars, that is.

Buffett's investment will help BYD achieve that, and should help Buffett make even more money. BYD says another planned use of that $230 million is to accelerate its move into the U.S. market, which was planned for 2010. When they finally do arrive, we'll see if Buffett has as much faith in their vehicles as he does in their batteries.

[Source: IHT]

Warren Buffet recharges his batteries with investment in BYD originally appeared on Autoblog on Wed, 01 Oct 2008 09:58:00 EST. Please see our terms for use of feeds.

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