Warren E Buffett, Chairman and Chief Executive Officer of Berkshire Hathaway, testifies before the Financial Crisis Inquiry Commission during a public hearing in New York
US billionaire Warren Buffett could deliver some tough talk to BYD Co Ltd when he visits the Chinese automaker next week, including potential plans to sell down his stake in the former high flyer that has hit a speed bump.
BYD was China's fastest-growing car maker last year but has encountered a host of problems in 2010, including sliding sales, a delay in plans to export its electric cars, and a legal dispute with the government over land it wants to develop.
Buffett's Berkshire Hathaway Inc bought 10 per cent of the company in 2008 -- an investment that has yielded handsome rewards with the stake now worth $1.6 billion, nearly seven times the original $230 million purchase price.
Buffett and Bill Gates, the 55-year-old co-founder and chairman of Microsoft Corp will arrive in China next Monday for a four-day visit, including three stops related to BYD in the cities of Beijing, Changsha and Shenzhen.
Buffett and Gates, America's two richest men and the world's top two donors to charity, will also host a private meeting in Beijing to discuss philanthropy development in China.
(Pictures by Reuters)