MidAmerican Energy Holdings, a unit of investor Warren Buffet’s Berkshire Hathaway announced it will be paying US$230 million for a 10% stake in Chinese automaker BYD Auto. BYD Auto (Build Your Dreams Auto) is said to be developing hybrid-electric cars set to be launched in China end-2008, and in Europe by 2010.

BYD Auto also plans to enter the US market. Its first two US-market cars are said to be the F3DM and the F6DM, both of which are going to support plug-in recharging. There will also be a fully electric F6e. Not sure how they’ll get past the copyright office though, as the F3 looks like a mash-up of the Toyota Corolla Altis, the Honda City and the Nissan Sentra (click to see the similiarities!)