BYD Co makes rechargeable batteries and cars in Shenzhen in Guangdong province. Founded in February 1995, and listed in Hong Kong in 2002, the origin of the company’s name is uncertain, with some saying it could simply be an acronym based on its Chinese name or from the phrase “build your dreams”. BYD’s profile was raised in 2008 when a unit of billionaire Warren Buffett’s Berkshire Hathaway invested about US$230 million in BYD.

BYD plans to use the proceeds from the placement to fund an expansion in battery production and research and development into new-energy vehicles. Photo: Reuters

Samsung unit buys 3b yuan stake in BYD

BYD, the electric-car maker backed by Warren Buffett’s Berkshire Hathaway, said a unit of Samsung Electronics bought a three billion yuan stake in the Chinese company.