Warren Buffett to inspect projects at BYD's production bases this month

Shanghai September 7 (Gasgoo.com) U.S. billionaire Warren Buffet will visit Chinese electric car maker, BYD Co.'s production bases in Shenzhen, Beijing and Changsha at the end of this month, Shanghai Securities News reported Tuesday.

As one of BYD's shareholders, Warren Buffet's visit to China is mainly for investigation of the carmaker's development and investment projects. Interested in electric vehicles, the stock God will pay a visit to BYD's electric sedan production base in Shenzhen and electric bus production base in Changsha, a person familiar with the matter revealed.

The Shenzhen base is capable of producing 200,000 sedans per year with 8 production lines and 160 workshops, and is BYD's major R&D center of electric vehicles.

BYD took over Changsha-based Midea Coach Manufacturing Co., Ltd. at a price of 3 billion yuan ($442 million) in August 2009, and turned it into an electric bus and passenger vehicle production base with an annual capacity of 300,000 units, the above person said, BYD is likely to roll out its first electric bus when Warren Buffet is around. 

Apart from that, Warren Buffett and Bill Gates will set for a charity event in Beijing on September 29, which 50 wealthy Chinese individuals will attend, said Zhang Xin, CEO of Soho China.