MidAmerican Energy Holdings Company, a subsidiary of Buffet’s Berkshire Hathaway, announced on Monday that it will pay $230 million for a 10 percent stake in Chinese electric automaker BYD.

The investment promises to support clean technology efforts at the Shenzen-based company, according to a report by China Daily.

“As worldwide discussions relating to global climate change and environmental respect continue, the technologies being developed by BYD will be an integral part of the future,” MidAmerican Chairman David Sokol said in a statement.

BYD, a Hong Kong-listed company since 2002, made its name as a battery maker but increasingly has devoted resources toward developing alternative vehicles. The company plans to debut all-electric and plug-in hybrid models in China and Europe by 2010.

As fuel prices rise and concerns over climate change intensify, automakers are scrambling to build alternative cars that are affordable and dependable. China likely will be at the center of this industry shift, as the second largest car market in the world.

The Asian giant’s government also has increasingly showed its willingness to encourage the adoption of alternative vehicles. The government is building a nationwide network of recharging stations for electric vehicles.

The BYD investment is the second clean technology deal this month for MidAmerican. The Berkshire subsidiary announced September 19 that it will purchase wholesale power seller Constellation Energy for $4.7 billion.

Based in Des Moines, Iowa, MidAmerican is held nearly 90 percent by Berkshire Hathaway and provides electric and natural-gas services in U.S. and U.K markets through a number of companies.