A CEO Who Gets It- BYD's Wang Chuanfu
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stocks and shares,
warren buffett
After reading a dated Fortune article that chronicles the events leading up to the purchase of 10% of BYD (Build Your Dreams) by Warren Buffett, I checked a few things up and decided to buy the stock.
Key to the decision was one decision that the CEO, Wang Chuanfu made. After BYD went public, he took 15% of his own holdings and gave it to his 20 other executives and engineers in the company. He still lives in the BYD owned apartment building with other engineers and actually refused Warren Buffett's offer to buy 20% of BYD.
With the turmoil going on worldwide within the car industry, BYD is poised to become the first mass producer of the electric car, the e6, which is slated to come online by the end of the year. At the same time the company plans to produced a plug in electric car called the F6DM which is targeted to be exported to the US in 2010.
I wonder what it will do to the GM bottom line and the Detroit car industry.
Another reason I bought the share is because the CEO drank the battery water of the electric car. I kid you not. He developed a non toxic electrolyte fluid because of the environmental awareness to develop a car battery that is 100% recyclable.
This is a CEO and company that is amazing and they get it. Read the article in Fortune, Warren Buffett takes Charge, and learn why he decided to get US $220 million stake of BYD.
[Source: IHT, Fortune]
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