Billionaire investor Warren Buffett, who has traditionally shied from putting his money on the newer information technology companies, has evidently started investing in technologies of the future as well as in traditional sectors.

Only days after announcing a major $5-billion investment in Wall Street giant Goldman Sachs, which recently agreed to change its structure along with Morgan Stanley to a bank-holding company from an investment bank, his holding company Berkshire Hathaway Inc. agreed to pay HK$1.8 billion ($231 million) for a minority stake in BYD Co., China's largest maker of rechargeable batteries. (See: Warren Buffett invests $5 billion in Goldman Sachs

Berkshire Hathaway unit MidAmerican Energy Holdings Co, that recently made a bid for Constellation Energy (See:Warren Buffett's MidAmerican Energy to acquire Constellation Energy for $4.7 billion), will buy 225 million BYD shares, equivalent to a stake of about 10 per cent, in the Shenzhen-based manufacturer, according to a statement issued on Saturday.

According to BYD's website, its 130,000 workers produce information-technology products including nickel-cadmium and lithium-ion rechargeable batteries, mobile-phone displays, keypads and housings; laptop-computer keypads, and more. On the vehicle side, the company produces electric cars, ranging from economy to luxury models, as well as car moulds and car parts.

Berkshire Hathaway is tapping into rising global demand for environmentally friendly technology. The partnership with MidAmerican would help BYD bring its electric vehicles and other environmental protection measures to the global market, Wang Chuanfu, the Chinese company's chairman, said in the statement.

"As worldwide discussions relating to global climate change and environmental respect continue, the technologies being developed by BYD will be an integral part of the future,'' MidAmerican Chairman David Sokol said in the statement.

BYD aims to start selling gasoline-electric hybrid cars in the US as early as 2010, joining larger rivals such as General Motor Corp. and Toyota Motor Corp., it said in January. It also plans to roll out its first all-electric auto in China next year.

Israel's Clal Industries and Investments, a unit of conglomerate IDB Development, said on Thursday it signed a deal to import electric cars from BYD and sell them in Israel. BYD's electric cars are expected in Israel and Europe by 2010. The firm has said the cars could travel 300 km (190 miles) on a single charge. A full charge needs nine hours using its lithium-ion batteries, although they could be charged to 80 per cent capacity in 15 minutes.

BYD last month announced first-half profit fell 7 per cent as costs for raw materials such as oil surged, wiping out a 44 per cent increase in sales. Its shares closed on Friday at HK$8.40, valuing the stake of 225 million shares at about HK$1.890 billion ($243 million) at its last traded price. The stock traded as high as HK$20.45 in October last year.

BYD shares fell to a five-month low on 30 June after Hong Kong's High Court dismissed its request to halt a lawsuit filed by Foxconn International Holdings, the world's biggest contract maker of mobile phones, for allegedly stealing trade secrets.

Berkshire Hathaway is the Omaha investment firm led by Buffett, holding stakes in insurance and finance, utilities and energy, manufacturing, retailing and services. MidAmerican, based in Des Moines, Iowa, and held 87.4 per cent by Berkshire Hathaway, provides electric and natural-gas service to customers through a number of companies.