Gates Bets Against Buffett’s EV Prophecy (MSFT, BRK.A, BYDDF, PG, JNJ, KO, TSLA, TM, HMC, F, BRK.B)
With all the electric vehicle talk these days, it’s almost surprising to hear there are still start-ups banking on the future of the combustion engine. However, one such firm got a high-profile vote of confidence fromMicrosoft (MSFT) founder Bill Gates, who, according to The Wall Street Journal, contributed to a $23.5 million round of funding. EcoMotors is a Troy, Michigan-based low-emissions engine firm whose motors are designed to run on ethanol, diesel, and good old-fashioned gasoline. According to its website, the company aims to make possible the first five-passenger car capable of 100 mpg highway fuel economy.
Investors pay close attention to the Bill & Melinda Gates Foundation’s top disclosed equity holdingspartly due to the foundation’s multi-billion dollar scale, and also because of Gates’ proximity to investment legend Warren Buffett. Lately though, Gates’ personal venture investments have grabbed the most headlines.
Back in 2008, Buffett’s Berkshire Hathaway (BRK.A, BRK.B) bought a 10%, Hong Kong-listed stake in Chinese electric car and battery firm BYD Co (BYDDF). BYD is hardly the typical “Buffett stock,” as indicated by Berkshire’s latest disclosed U.S.-listed equity portfolio, which is chock full of blue-chips likeProcter & Gamble (PG), Johnson & Johnson (JNJ), and Coca-Cola (KO). But the Oracle of Omaha sees
