U.S. billionaire Warren Buffet has arrived in China. The legendary investor and philanthropist is attending a series of events in Shenzhen, held by Chinese battery and automaker BYD.

As BYD finalizes its deal with China Southern Power Grid to cooperate on battery energy storage systems, Warren Buffett and other members of the Berkshire Hathaway board stand behind them. This is a strong symbolic show of support, from the man who owns a 10 percent stake in the Chinese automaker.

Warren Buffet, Chairman of Berkshire Hathaway Incorporated said "BYD is a young and promising company, it's experiencing dynamic growth, a leader of innovation and technology. As we have just seen in the video, BYD's efforts to solve the great engineering and energy issues of our time are not only economically beneficial for all of us here, but indeed a benefit to the entire global community."

At a ceremony to mark BYD's one millionth car sale in Shenzhen, spirits are high and the champagne flows. Warren Buffet participates in the celebrations, handing over a oversized key to the new car owner.

The billionaire says he believes BYD is a good investment choice.

Warren Buffet said "BYD is the right choice for me, I believe it's also the right choice for you. Like their name - build your dreams - let us build our dreams together. Thank you."

BYD began as a battery manufacturer, founded by tycoon Wang Chuanfu. It entered the auto market in 2003 and began mass production of the world's first plug-in hybrid car five years later. This trip is Buffet's first to BYD, almost two years after Berkshire-controlled holding company MidAmerican Energy purchased a stake in the company.

After Shenzhen, Buffet is also scheduled to visit Huizhou, in Guangdong Province, and Beijing.

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