Chinese automaker BYD, property developer Vanke launch $154m tech & logistics fund

Chinese automaker BYD, property developer Vanke launch $154m tech & logistics fund

Employees manufacture electric vehicles at the BYD Coach and Bus factory in Lancaster, California, U.S., on Thursday, Oct. 5, 2017. Photographer: Patrick T. Fallon/Bloomberg

BYD, a Chinese automobile manufacturer backed by Warren Buffett, has joined forces with residential real estate developer China Vanke to launch a fund that will invest 1.1 billion yuan ($153.93 million) into the technology and logistics sectors.