May 02, 2009 (Omaha World-Herald - McClatchy-Tribune Information Services via COMTEX) -- BYDDF | Quote | Chart | News | PowerRating -- A plug-in electric car from China and a "green" home from Tennessee are among the innovative products Berkshire Hathaway shareholders will see during the company's annual meeting today.
The car comes from Shenzhen-based BYD Company Ltd., in which Berkshire's MidAmerican Energy Holdings Co. in September bought a 10 percent stake for about $230 million.
BYD is a leading manufacturer of rechargeable batteries that power cell phones and other products. In 2003 it expanded into conventional and electric cars.
David Sokol, chairman of MidAmerican, said technologies developed by BYD would play an important role as the world confronts climate change and other environmental issues.
BYD's e6 all-electric four-door car debuted in Detroit in January. The company's all-electric and hybrid cars could be sold in the United States by 2011.Berkshire-owned companies display and sell items every year at the annual meeting. The products range from Ginsu knives and Geico auto insurance to Dairy Queen ice cream and See's candy. NetJets, which offers fractional ownership of aircraft for individuals and businesses, displays jets at Eppley Airfield.
Nearly every sales location tallied record receipts last year, Berkshire Chairman Warren Buffett said in his annual report. Shareholders can do better, however, he said.
"If I find sales lagging, I lock the exits."
Maryville, Tenn.-based Clayton Homes built the environmentally friendly "I-house," which is a one- or two-bedroom main house connected by a deck to a separate, optional living area that features a bedroom or den, a full bath and a roof-top patio. The house is built in a factory but assembled on the homeowner's land.
Features of the I-house include solar panels, energy-efficient windows, climate-controlled rooms and a butterfly roof that catches rainwater for recycling. It will be available for purchase nationwide after today's meeting.
"Estimated costs for electricity and heating total only about $1 per day when the home is sited in an area like Omaha," Buffett said.
The I-house has Shaw flooring, Johns Manville insulation and MiTek fasteners, all companies owned by Berkshire.
Berkshire bought Clayton Homes in 2003. It is the nation's leading manufactured home builder.
--Contact the writer: 444-1117, joe.ruff@owh.com
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