UPDATE 1-Buffett's BYD endorsement sends shares soaring

Newswire

(Adds analysts' comments) By Joanne Chiu and Alison Leung HONG KONG, Sept 29 (Reuters) - U.S. billionaire Warren Buffett's investment in Chinese battery maker BYD gives the firm capital and credibility to pursue its ambition of making environmentally friendly hybrid cars, and nearly doubled its share price on Monday. On Saturday, MidAmerican Energy, a unit of investment guru Buffett's Berkshire Hathaway , agreed to buy a 10 percent stake in BYD for $230 million, which investors took as ...

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