BYD Chairman Wang Chuanfu also said he is considering whether to sell a larger stake in the company to U.S. investor Warren Buffett, whose MidAmerican Energy Holdings, a unit of Berkshire Hathaway, last year paid $230 million for a stake of nearly 10 percent.
At a press conference here to announce that BYD had nearly doubled its profits in the first half, Wang told reporters, "MidAmerican has always intended to raise its stake in BYD because it believes BYD has good prospects in the development of renewable energy, but we are still considering (whether to sell a larger stake)."
Wang also said he expects BYD to exceed its 2009 sales target of 400,000 vehicles. The company sold 180,000 cars in the first half.
The e6 is now scheduled to go into limited production in China in late 2009.
Inside Line says: So far, Buffett has made profit of more than $1 billion in less than a year on his initial investment in BYD. — Hu Lei, Correspondent
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