Chinese carmaker BYD said it plans to sell up to 6 billion yuan ($938.8 million) in bonds to repay loans and boost its coffers.
The announcement comes after BYD reported this week that first-half net profit slumped 89% over the same period last year.
The proceeds "will provide the company with a source of medium and long-term" funding and will be used to "repay bank loans and supplement the company's working capital," BYD said.
Currently, BYD was listed on the Hong Kong stock market, began as a manufacturer of rechargeable lithium-ion and nickel batteries, and drew international attention when Buffett bought a 9.89% stake in it for $230 million in 2008.
Since then, the company has begun the production of clean-energy vehicles.
