Remember back in 2008 when BYD (Build Your Dreams) first displayed its fuel saving hybrid at the Detroit Auto Show and later announced plans to begin selling in the US in 2010? A quick glance at any street in the country will provide ample evidence that the Chinese automaker has failed to smother our roadways with low-cost electric and hybrid vehicles. Ditto its buses.
Sometimes building the dream involves a little un-building and renovation. Such is the case with China's BYD (an acronym for Build Your Dreams) that, two years ago, made Warren Buffet a billion dollars in profit and made its chairman Wang Chuanfu the richest man in China, but by the end of last year was freefalling into dismal sales, following that up this year with dismal revelations and an even more dismal IPO.
Warren Buffett, who made his billions of dollars through a series of investments, is nothing if not a shrewd businessman. As such, when Buffett makes a move on one of the companies he's invested in, the world stands up and takes notice.