BYD Co Ltd (1211.HK) plans to use funds raised in a potential private placement to boost battery production capacity and develop new models, said the Chinese automaker backed by billionaire Warren Buffett’s Berkshire Hathaway Inc (BRKa.N). On Tuesday, Thomson Reuters publication IFR reported that BYD was planning to raise up to 12 billion yuan ($1.9 billion) in the placement. BYD halted trading in both H- and A-shares on Monday, saying it was preparing for a potential private placement.