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U.S. W. Buffet and Taiwan Terry Gou likely to turn into rivals in China
Taiwan News, Staff Writer
2008-09-29 06:07 PM
TAIPEI (Taiwan News) - Taiwanese entrepreneur Terry Gou might soon count U.S. investor Warren Buffett among his rivals, if the latter’s investment in a major Chinese company goes ahead, reports said.

Buffett, often mentioned in the past as the world’s wealthiest man behind former Microsoft chairman Bill Gates, is reportedly looking to buy 10 percent of shares in China’s BYD Co., Ltd., a major electronics and auto-parts manufacturer.

The Chinese company is currently involved in a court case pitting it against Foxconn, the brand name of Hon Hai Precision Industries. Foxconn sued BYD in 2006 for violation of trade secrets.

Chairman Terry Gou’s Hon Hai manufactures computers and cell phones for prominent brands such as Apple, Sony, Dell, Nokia and Motorola.

Hong Kong-listed BYD also counts Nokia and Motorola among its customers, and is believed to be those companies’ second biggest supplier behind Foxconn, reports said. The Chinese company is also the world’s second largest producer of rechargeable batteries. Engineer Wang Chuanfu founded BYD in Shenzhen 13 years ago.

Buffett’s reported investment in BYD is seen as a vote of confidence in the Chinese group and in China’s burgeoning technology sector, media reported.

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