Autoblog

China's BYD opening U.S. headquarters today

Zach Bowman — Mon, 24 Oct 2011 18:01:00 EST

Filed under: Sedan, SUV, China, Electric

Chinese automaker BYD is set to open its North American headquarters in Los Angeles today. The company says that the office will add around 150 jobs to the area, including engineering and management positions. In addition, the manufacturer has announced a partnership with Hertz that will see BYD electric shuttles transport rental car customers to and from their vehicles at the Los Angeles International Airport. BYD is hoping to position itself as an EV specialist here in the States, but Edmunds Auto Observer reports that the automaker has seen its fair share of problems over the past year.

In 2010, BYD sold 519,800 vehicles, which is a far cry from the 800,000 units the company forecast earlier in the year. Likewise, 2011 hasn't been any kinder to the automaker, with 232,400 vehicles sold from January through July. In addition, labor, research and administrative costs have all increased as the company's profits have slid off among weak consumer confidence.

Currently BYD plans to offer two vehicles in the U.S. - an all-electric sedan and the E6 SUV EV.

China's BYD opening U.S. headquarters today originally appeared on Autoblog on Mon, 24 Oct 2011 18:01:00 EST. Please see our terms for use of feeds.

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Ailing BYD prepares for layoffs in China

Jonathon Ramsey — Tue, 06 Sep 2011 08:29:00 EST

Filed under: China, Hirings/Firings/Layoffs

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.

The company is letting go of 2,600 workers from its sales force, who apparently didn't have much to sell as sales dropped 23 percent in the first six months of this year. The transition is happening in stages, with 1,000 slated to go first and others being transferred to places like assembly plants. Still, BYD plans to beat last year's sales of 520,000 units by five to 10 percent. In case you were dying to buy a BYD, it will probably be a little while longer before it sets up that Los Angeles HQ. We think you'll survive...

Ailing BYD prepares for layoffs in China originally appeared on Autoblog on Tue, 06 Sep 2011 08:29:00 EST. Please see our terms for use of feeds.

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BYD raises $219 million in China IPO

Autoblog Staff — Tue, 21 Jun 2011 18:21:00 EST

Filed under: China

Chinese automaker BYD raised a less-than-stellar 1.42 billion yuan ($219 million U.S. at the current exchange rate) in its initial public offering in Shenzhen, China late last week. Analysts say that BYD's IPO was weighed down by weak investor sentiment and worries over the automaker's poor performance.

In a statement released to the Shenzhen Stock Exchange on Sunday, BYD announced that it had priced its IPO at 18 yuan ($2.78 USD) per share and had initially set its sights on raising 2.19 billion yuan ($338 million USD). BYD sold 79 million shares in its IPO and will use proceeds from the sale to fund its lithium-ion battery project, add to research and development and expand its automotive unit.

Over the past three years, Shenzhen-based BYD tried to return to the stock market and finally received approval from the China Securities Regulatory Commission in May. The automaker has struggled as of late, with sales declining since the second half of 2010.

BYD raises $219 million in China IPO originally appeared on Autoblog on Tue, 21 Jun 2011 18:21:00 EST. Please see our terms for use of feeds.

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WikiLeaks reveals disturbing business practices of Buffett's BYD

Jeremy Korzeniewski — Thu, 10 Mar 2011 15:30:00 EST

Filed under: Hybrid, China, Government/Legal, Earnings/Financials, Design/Style, Electric

_{2009 BYD F3DM - Click above for high-res image gallery}

Are Chinese cars nothing more than cheap copies of other automaker's products in other parts of the world? That's a question that's been asked rather widely for the last several years as the numbers of large Chinese automakers has risen dramatically, and even more so as they have shown their wares at major auto shows outside their home country.

There is certainly no doubt that many, if not most, cars rolling out of factories in China bear a striking exterior resemblance to popular models from Japan, Europe and the United States. But do those exterior facsimiles go more than skin deep, and if so, does it matter? What about the actual guts of the vehicles - are Chinese automakers creating their own important new technologies, especially in the burgeoning eco-friendly segment?

These are the questions bandied about in a special report from Reuters, targeted specifically in the direction of BYD, the Chinese automaker that has been buoyed by major investments and backed by Warren Buffett. The big draw for Buffett and his money was BYD's proprietary battery technology, which it uses on its own branded electric cars, some of which are supposedly coming to America.

Reuters, though, citing documents it received by a third party from WikiLeaks, charges that BYD's battery tech may not be all its cracked up to be, and that sales of its EVs are painfully slow. Further, officials such as Guanzhou Consul-General Brian Goldbeck reportedly said two years ago that BYD's vehicles may pass China's lax copyright laws, but aren't likely to in other countries.

Just as damningly, unnamed consultants claim BYD's vehicles are very unlikely to pass U.S. safety standards, saying of one of BYD's models, "If you shut the doors too hard, they fall off." Removable doors... not good. Some automakers polled by Reuters claim that BYD requests just enough parts from reputable suppliers to reverse engineer the designs and then assemble them itself using inferior materials.

What all of this means for BYD and for Warren Buffett's billion-dollar investment into the company remains to be seen, but it can hardly bode well for the brand's chances in such competitive markets as the United States.

Gallery: 2009 BYD F3DM plug-in hybrid

[Source: Reuters]

WikiLeaks reveals disturbing business practices of Buffett's BYD originally appeared on Autoblog on Thu, 10 Mar 2011 15:30:00 EST. Please see our terms for use of feeds.

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BYD: Want to sell our cars? Sell our light bulbs too!

David Kiley — Thu, 13 Jan 2011 18:28:00 EST

Filed under: Detroit Auto Show, Minivan/Van, Sedan, China, Crossover, Electric, MISC

BYD E6 at 2011 Detroit Motor Show - Click above for high-res image gallery

China automaker BYD is in no hurry to launch in the States, and it shows in its plan.

BYD has been displaying cars at the North American International Auto Show in Detroit for three years now, and it originally planned to launch an electric car by the end of 2012 to consumers. Now that's looking like 2013, according to Mike Austin, vice president of BYD's U.S. division.

In the meantime, BYD is testing some cars in a fleet with the Housing Authority of Los Angeles.

The plan is for the company to find at least five dealers who are willing to not only sell a BYD e6 electric and a plug-in hybrid, called the f3DM, but also BYD LED lights, solar panels and other products related to "green" living. "We aren't pursuing the typical sales and distribution model," says Austin.

BYD has gained notoriety for its rapid rise in China and for the investment in the company made by Warren Buffett's Berkshire Hathaway, which owns 10 percent of the company best known for lithium-ion batteries for mobile phones and other consumer electronics.

Last year, BYD sold 520,000 vehicles in China - impressive but well short of its stated goal of 800,000 units.

Austin says the company has not selected dealers yet, but acknowledged that the business model for selling BYD's other products will not appeal to some dealers. "That's okay, because we are doing something unique here. We are in not in a hurry to launch in the U.S.," says Austin, who noted the growth in the Chinese market that BYD is trying to manage.

The five dealers BYD is looking for at launch is the start of a network planned to grow to 20, and according to Austin, not all of the dealerships at launch will be in California.

Gallery: Detroit 2010: BYD E6

BYD: Want to sell our cars? Sell our light bulbs too! originally appeared on Autoblog on Thu, 13 Jan 2011 18:28:00 EST. Please see our terms for use of feeds.

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Report: BYD to unveil Lexus RX-influenced S6 hybrid in Detroit

Jeremy Korzeniewski — Fri, 07 Jan 2011 18:02:00 EST

Filed under: Detroit Auto Show, Hybrid, China, Crossover, Electric

BYD S6 DM - Click above for high-res image gallery

Whenever we hear that a Chinese automaker is working on a vehicle that's "influenced" by some other successful model from an established global company, we wince a little. After all, we've seen quite a few less-than-convincing attempts to go along with a few couldn't-tell-the-difference carbon copies. And neither of those options are acceptable.

From what we can tell, BYD's S6 (shh - don't tell Audi) DM crossover could be considered a little of both. From the profile, you'd be forgiven for mistaking it for a couple-year-old Lexus RX. From the front, we see clear influence from General Motors' European arm, Opel. That said, it appears to be a passable effort on the styling front, and it's what's underneath that derivative skin that's what really counts.

The DM in the 'utes name stands for Dual Mode, as in a hybrid that can be powered by electricity only or a combination of the electric motors and gasoline engine. The drivetrain consists of a 14-horsepower electric motor that powers the front wheels and a 102-horsepower gasoline engine powering the rears. That's not a lot of power, but at least the two systems can work together to offer all-wheel drive.

We'll be on the lookout for this machine at the 2011 Detroit Auto Show next week. In the meantime, check out a few images in our gallery below.

Gallery: BYD S6 DM

[Source: China Car Times]

Report: BYD to unveil Lexus RX-influenced S6 hybrid in Detroit originally appeared on Autoblog on Fri, 07 Jan 2011 18:02:00 EST. Please see our terms for use of feeds.

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BYD bringing electric E6 to U.S. in 2010 2011?

Autoblog Staff — Fri, 17 Dec 2010 08:29:00 EST

Filed under: Minivan/Van, Wagon, China, Crossover, Electric

BYD e6 electric MPV - Click above for high-res image gallery

When Chinese automaker BYD's E6 electric crossover hit the stage at the Detroit Auto Show in January, the ambitious automaker announced that the vehicle's production schedule was on track and that U.S. deliveries would get underway by the end of the year. Well, plans frequently change and BYD's dreams of delivering the E6 to American buyers by the end of 2010 isn't going to happen. Even though the E6 has been delayed, there appears to be some indication that the automaker could launch the electric crossover in the U.S. in 2011.

The Wall Street Journal prodded Stella Li, BYD's senior vice president and head of U.S. operations, for info on the E6's delay and reports that:

The holdup was caused by BYD's efforts to make the car roomier, especially its rear-seat area that was cramped thanks to a beefy battery pack that needs to be stored under the seat.

Li provided the WSJ with an updated launch schedule, telling the news outlet that 50 E6 electric cars - all destined for fleet duty - should hit U.S. turf sometime in 2011. Furthermore, Li declared that private buyers interested in the E6 will get a crack at owning one in 2012. We're not going to take bets that BYD's plans won't get derailed again.

Gallery: BYD e6 electric MPV

[Source: Wall Street Journal]

BYD bringing electric E6 to U.S. in ~~2010~~ 2011? originally appeared on Autoblog on Fri, 17 Dec 2010 08:29:00 EST. Please see our terms for use of feeds.

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Big Trouble in Little China: BYD profit falls 99 percent

Zach Bowman — Wed, 27 Oct 2010 08:31:00 EST

Filed under: China, Earnings/Financials

Wang Chan Fu, BYD Chairman

Warren Buffet-backed BYD is in trouble. The Chinese automaker saw profits fall by an astounding 99 percent in the third quarter. The fall was the second largest among the 982 stocks that make up the MSCI Asia Pacific Index. The company saw sales fall by a hefty 25 percent through September, even though China's overall car market swelled by 19 percent among increased demand. BYD, meanwhile, saw sales fall off by 19 percent in August alone. News of the company's stumbling caused its stock to drop in value by around 10 percent - the largest fall since November of 2008.

According to Bloomberg, the news is only the most recent in a spat of BYD misfortunes, including having seven manufacturing facilities seized by the Chinese government amid accusations that the plants were built illegally. In addition, the company has had to postpone its plans to introduce its all-electric E6 in the United States. Originally, BYD wanted to begin selling the car on U.S. soil by the end of this year, but that goal has now been shifted to sometime in 2011.

Warren Buffet, who owns a 10-percent stake in the company, says he still believes that BYD will prove to be one of the world's leading manufacturers of electric vehicles in the near future.

[Source: Bloomberg | Image: Mike Clarke/AFP/Getty]

Big Trouble in Little China: BYD profit falls 99 percent originally appeared on Autoblog on Wed, 27 Oct 2010 08:31:00 EST. Please see our terms for use of feeds.

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China reportedly adding big incentives for hybrid, electric purchases

Zach Bowman — Thu, 03 Jun 2010 10:26:00 EST

Filed under: Hybrid, China, Government/Legal

Geely Emgrand plug-in hybrid - Click above for high-res image gallery

If you pay them, they will come. At least that's the philosophy China is applying to the electric car business these days. The people's republic is set to roll out new pilot programs in four of its largest cities aimed at curbing emissions by promoting plug-in hybrids and EVs. The country is handing out the equivalent of around $7,320 in incentives for the purchase of more green-minded automobiles. At first, the program will only be available to those who live in Shanghai, Shenzhen, Hangzhou and Hefei, though depending on its success, it may spread to other parts of the country.

As a result of the incentives, Chinese manufacturers are beginning to give EVs and plug-in hybrids some serious thought, and automakers like BYD, Geely and SAIC Motor Corp have all announced varying plans for production. The news will likely go a long way toward helping China get a grip on its raging air quality problems, especially in its larger metropolitan areas.

According to Automotive News, the Chinese government is also offering a nationwide subsidy program for small-engine vehicles. Any car with a 1.6-liter engine or smaller that consumes 20 percent less fuel than current standards is eligible for a $440 incentive.

Gallery: Beijing 2010: Geely Emgrand GE

[Source: Automotive News]
Photos by Sam Abuelsamid / Copyright (C)2010 Weblogs, Inc.

China reportedly adding big incentives for hybrid, electric purchases originally appeared on Autoblog on Thu, 03 Jun 2010 10:26:00 EST. Please see our terms for use of feeds.

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China's Great Wall looking to expand sales to third European country

Jonathon Ramsey — Fri, 14 May 2010 07:30:00 EST

Filed under: China, Europe

While Brilliance takes its leave of the European market for product unbecoming, another Chinese manufacturer, Great Wall, is planning to penetrate further into Europe. The company has been in global markets for about ten years and expects to ship 60,000 vehicles internationally this year, a return to its 2008 number. Some of those will include the Wingle pickup (pictured) that currently goes to Italy and Bulgaria.

Great Wall has three other offerings certified for the Euro-zone: the Hover SUV, the Florid, and the wonderfully named Coolbear sedan. Next year it will begin assembly of those vehicles in Bulgaria, but for the moment it looks like the Wingle will continue to lead the charge. Great Wall wouldn't say what the next market would be beyond "a Northern European country." That region might also give the Wingle more practice at how to cross a body of water, if you know what we mean.

[Source: Just-Auto]

China's Great Wall looking to expand sales to third European country originally appeared on Autoblog on Fri, 14 May 2010 07:30:00 EST. Please see our terms for use of feeds.

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Report: China's BYD to locate U.S. headquarters in Los Angeles

Jonathon Ramsey — Mon, 03 May 2010 08:00:00 EST

Filed under: China, Government/Legal, Plants/Manufacturing

BYD e6 electric MPV - Click above for high-res image gallery

BYD - an acronym for Build Your Dreams - wants to be a star on the American auto scene, and the Chinese maker of cars, batteries and solar cells is setting up shop in Los Angeles to do it. With LA Mayor Villaraigosa and California Governor Schwarzenegger as a supporting cast, the company announced it would locate its headquarters at 1800 S. Figueroa Street in the financial district of downtown LA.

However, the company's first goal isn't making a mark with its cars. Right now it is focused on solar panels, aiming to make them popular enough that they cost less for consumers. Paraphrasing Bill Gates' ideas about the PC, BYD Chairman Chuan-Fu said he wants solar panels on every home.

After that, the company's next goal is to expand throughout the States, and only after that is done will it turn to building hybrid and fully electric cars here. BYD's new operations are expected to add several hundred jobs to the LA's employment rolls.

Gallery: BYD e6 electric MPV

[Source: Daily News]

Report: China's BYD to locate U.S. headquarters in Los Angeles originally appeared on Autoblog on Mon, 03 May 2010 08:00:00 EST. Please see our terms for use of feeds.

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Rumor Squashed: Maybach not for sale, to BYD or anyone else

Zach Bowman — Wed, 31 Mar 2010 08:20:00 EST

Filed under: Sedan, China, Europe, Maybach, Luxury

Maybach Zeppelin 62 - Click above for high-res image gallery

Fear not - it turns out Maybach won't be the next fabled automaker to be handed off to Chinese buyers. Rumors that the hyper-luxury mark was up for bid have officially been dismantled by Daimler. Just yesterday, we heard that the infamously questionable BYD wanted to sink its teeth into Maybach in a big way, but officials from BYD have officially said it has no plans to pursue the brand.

BYD and Daimler have recently been partnering on an electric vehicle project, which may have helped fuel rumors that the two would work together to find Maybach a new home. As juicy as the rumors were, it rather predictably turns out they're nothing but lies.

Gallery: Maybach Zeppelin

[Source: Autocar]

Rumor Squashed: Maybach not for sale, to BYD or anyone else originally appeared on Autoblog on Wed, 31 Mar 2010 08:20:00 EST. Please see our terms for use of feeds.

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Rumormill: BYD interested in buying Maybach from Mercedes?!

Eric Loveday — Mon, 29 Mar 2010 13:41:00 EST

Filed under: Maybach, Mercedes-Benz, Rumormill

Maybach Zeppelin 62 - Click above for high-res image gallery

According to one of China's largest auto-related websites, BYD is interested is acquiring the Maybach brand from Mercedes-Benz within the next few years. The site, auto.sina.com is reporting that an undisclosed official from BYD confirmed the companies interest in Maybach. The source stated that BYD would "launch the acquisition" when Mercedes finalizes its decision to end the Maybach nameplate.

Mercedes and BYD have already joined together in an effort to market electric vehicles in China, so the companies have a working relationship, but whether or not this relationship translates into the acquisition of Maybach is unknown. It seems unlikely that Mercedes would hand over the Maybach nameplate to another company, but it just might happen. BYD's expansion efforts have been strong and luxury cars such as the Zeppelin, pictured above, tend to sell well in foreign markets so it could be a fit for BYD. For now, we will just have to wait it out and see what develops.

Gallery: Maybach Zeppelin

[Source: auto.sina via The Tycho]

Rumormill: BYD interested in buying Maybach from Mercedes?! originally appeared on Autoblog on Mon, 29 Mar 2010 13:41:00 EST. Please see our terms for use of feeds.

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Will a Chinese or Indian automaker scrap the traditional dealer model?

Jonny Lieberman — Sat, 16 Jan 2010 12:40:00 EST

Filed under: Car Buying, China, India, Tata

BYD E6 - Click above for high-res image gallery

With the possible exception of a trip to the dentist, visiting a car dealership is the least pleasant activity in which we participate. Unless you walk in with mound of cash, you can be sure that using their cruel four square method, U.S. dealers have a quadrangled plan of attack to bend you over. But what if it wasn't like that?

China's BYD (known colloquially as Build Your Dreams) will begin selling cars in the U.S. within the year. That much we know. But where are they going to sell them? Put a better way, how are they going to sell them? According to USA Today, the big fear among other automakers and U.S. dealers is the latter question.

The possibility exists that incoming players like BYD or India's Tata or Mahindra could sidestep the middle man and sell vehicles directly to customers. Obviously, this would be a rather large selling point to those of us who don't enjoy the feeling of being cheated and fleeced during a round of three-card monte (i.e. the typical dealer experience). Another option might be selling the cars through big-box stores like Walmart or Costco. The shape of things to come is getting interesting, if nothing else.

Gallery: Detroit 2010: BYD E6

[Source: USA Today]

Will a Chinese or Indian automaker scrap the traditional dealer model? originally appeared on Autoblog on Sat, 16 Jan 2010 12:40:00 EST. Please see our terms for use of feeds.

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Report: China officially eclipsed U.S. as world's largest car market in 2009

Jonny Lieberman — Mon, 11 Jan 2010 07:01:00 EST

Filed under: Car Buying, China

What's that Bruce Springsteen song? "Glory Days?" You know where this is going, and if you don't, take a seat. America is no longer the largest auto market in the world. The People's Republic of China is. Mao would be so... proud is not the right word.

Here's the specifics. Before we start, China has around 1.3 billion citizens compared to our 310 million or so souls - let's not forget that. That said, China closed 2009 with consumers buying 13.5 million cars, whereas we sold 10.9 million here in the U.S. Running the numbers, the U.S. demand for cars fell off by 20 percent, whereas the Chinese market charged ahead, up by 40 percent.

Is the playing field totally level? Probably not, as the politburo greased the skids a bit by cutting taxes on vehicles with motors smaller than 1.6-liters. The central planners also encouraged the sales of alternate fuel vehicles, such as what's being offered by BYD. There were also programs in place to assist rural farmers in need of wheels.

Unfair comparison? Maybe, and there are also claims of the Chinese government purchasing and stockpiling vehicles to keep factory output up. Of course, we had Cash-for-Clunkers, federal and state incentives for green vehicles and giant tax loopholes that allow Hummer H2s to be taxed like farm vehicles. Also, the Federal Government, the UAW and Canada owns General Motors. And finally, does being the world's largest car market actually matter? Isn't it akin to having the world's tallest building?

[Source: The Detroit Bureau | Image: Frederick J. Brown/AFP/Getty]

Report: China officially eclipsed U.S. as world's largest car market in 2009 originally appeared on Autoblog on Mon, 11 Jan 2010 07:01:00 EST. Please see our terms for use of feeds.

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To Chuanfu! Thanks for Everything, Warren Buffett

Chris Paukert — Fri, 02 Oct 2009 18:29:00 EST

Filed under: China, Earnings/Financials, Celebrities

Wang Chuanfu (above), the founder of Chinese battery manufacturer and automaker BYD is reportedly the richest man in all of China. Already a wealthy man, Bloomberg reports that Chuanfu has jumped a startling 102 places to land himself atop Hurun Rich List, an annual wealth index chronicling the country's richest people.

How did this happen? Chuanfu made nice with "The Oracle of Omaha" Warren Buffett, and the investor has paid him back - handsomely. The iconic businessman's Berkshire Hathaway Inc. took a 10% stake in BYD this year, and the stock feeding frenzy that resulted pushed Chuanfu's personal wealth from a piffling $880 million up to a get-Robin-Leach-on-the-horn $5.1 billion. Buffett himself pocketed a billion from the relationship in short order, too.

Of course, Bloomberg notes that it also helps that BYD's F3 sedan has become China's best-selling automobile this year, and presumably the demand for high-capacity rechargable batteries for everything from phones and laptops to hybrid autos isn't going anything but up.

Either way, we wouldn't be surprised to learn that Chuanfu plans on repaying Buffett's favor come holiday season by sending him the mother of all fruit baskets.

[Source: Bloomberg | Image: Bill Pugliano/Getty]

To Chuanfu! Thanks for Everything, Warren Buffett originally appeared on Autoblog on Fri, 02 Oct 2009 18:29:00 EST. Please see our terms for use of feeds.

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Mint.com flowcharts the state of the auto industry

Chris Shunk — Sat, 05 Sep 2009 16:35:00 EST

Filed under: Chrysler, Ford, GM

We all know the state of the auto industry right now, especially with regard to the Detroit three. We'd say it's somewhere between normal and completely screwed. Sales volume has been mostly woeful, two of the Detroit automakers needed a taxpayer bailout to survive, and Chrysler has been passed around like a hot potato. Ford has more debt than Miami Beach has sand, yet the Blue Oval is considered the healthiest patient in the ICU. Beyond the cash infusion, the migration away from SUVs, and the desperate scramble for fuel efficiency, Detroit automakers have morphed, moved, cut and shrunk their way through the 21st century.

They say a picture is worth a thousand words, and we'd add that the above graph is tantamount to an engaging novella. It charts the massive brand exodus among the Detroit contingent, which looks like a quadruple reverse drawn up on the telestrator by John Madden. If that isn't sobering enough, the text below shows just how much Detroit automakers have shrunk since 2006. Overall, attrition at Ford, GM and Chrysler accounts for an astonishing 144,600 workers in only three years. No wonder Michigan has the highest unemployment rate in the nation.

The chart also gives a brief look at the up-and-coming members of the US auto industry, including Tesla, BYD, Tata and Smart, along with a quick blurb about the future of each of the automakers represented. Click on the graphic above to view the chart in full. Hat tip to M.Sharma.

[Source: Mint]

Mint.com flowcharts the state of the auto industry originally appeared on Autoblog on Sat, 05 Sep 2009 16:35:00 EST. Please see our terms for use of feeds.

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REPORT: BYD pushes American EV launch ahead to 2010

Jeremy Korzeniewski — Sun, 23 Aug 2009 13:16:00 EST

Filed under: Minivan/Van, China, Crossover, Electric

BYD e6 electric MPV - Click above for high-res image gallery

According to a report from The Wall Street Journal, Warren Buffet-backed Chinese automaker BYD has moved up its schedule and plans to sell a fully electric car here in the United States next year. Interestingly, the automaker's original plans were to sell its first products here in the U.S. in 2010, but it then delayed that projection by a year. The new announcement puts BYD back on track for its original 2010 target -- perhaps not coincidentally in line with the launch of the new Nissan Leaf.

BYD's e6 five-seatcrossover is the first vehicle exected to hit the U.S. market, with a price of just over $40,000. Details on the car's launch are still slim at this point, but WSJ indicates it will be a limited to a few hundred vehicles in select markets. Expect the initial vehicles to go to "government agencies, utilities and maybe some celebrities," according to BYD Chairman Wang Chuanfu.

Last we heard, the all-electric e6 was capable of accelerating to 100 km/h (62 mph) in ten seconds with a maximum speed of 160 km/h (99 mph). Perhaps more importantly, the car's range has been quoted at 300km (186 miles) on a full charge of its lithium ion battery pack.

Gallery: BYD e6 electric MPV

[Source: The Wall Street Journal]

REPORT: BYD pushes American EV launch ahead to 2010 originally appeared on Autoblog on Sun, 23 Aug 2009 13:16:00 EST. Please see our terms for use of feeds.

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Warren Buffett reportedly rakes in $1B profits on BYD in less than one year

Jeremy Korzeniewski — Tue, 04 Aug 2009 10:01:00 EST

Filed under: Hybrid, China, Technology, Earnings/Financials, Celebrities, Electric

_{2009 BYD F3DM - Click above for high-res image gallery}

You don't get to hold the title of The Richest Person in the World - a title oft-owned by either Bill Gates or Warren Buffett at any given time - without knowing how to make sound financial decisions. While not all of Warren Buffett's investments end up raking in tons of money, his procurement of a ten-percent stake in Chinese automaker BYD less than one year ago has already earned his Berkshire Hathaway Inc. some $1 billion.

Driving the rapid rise in BYD's value are its investments in hybrid automobiles like the plug-in F3DM and, even more importantly, high-tech lithium iron phosphate batteries. A recent partnership with Volkswagen and possible tie-ups with Ford and others have proven the worth of that energy storage technology for automotive use and the company is already China's largest producer of rechargeable batteries for portable electronics.

BYD Chief Executive Officer Wang Chuanfu has publicly stated his company's plan to more than double global sales this year with new models and additional export deals, which could include the United States as early as 2011. With all of this in mind, it shouldn't come as a surprise that Buffett bolstered his investment Sunday night by acquiring an additional 225 million shares of BYD stock.

Gallery: 2009 BYD F3DM plug-in hybrid

[Source: Bloomberg]

Warren Buffett reportedly rakes in $1B profits on BYD in less than one year originally appeared on Autoblog on Tue, 04 Aug 2009 10:01:00 EST. Please see our terms for use of feeds.

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Volkswagen and BYD partner up for electric cars

Sebastian Blanco — Tue, 26 May 2009 07:58:00 EST

Filed under: Hybrid, China, Green, Volkswagen

2009 BYD F3DM plug-in hybrid - Click above for high-res image gallery

Last week, Volkswagen and Chinese automaker BYD signed a memorandum of understanding to work together "in the area of electric mobility" and vehicles that use li-ion batteries. BYD Chairman Wang Chuanfu (yes, the guy who likes to drink battery fluid) and VW's Martin Winterkorn signed the MOU in Wolfsburg, Germany. Ulrich Hackenberg, Member of the Board for Technical Development at Volkswagen, said in a statement (available after the jump) that, "Hybrids and electric vehicles will play an increasingly important role [for VW], of course. Particularly for the Chinese market, potential partners such as BYD could support us in quickly expanding our activities."

Perhaps VW was kicked into action by another German automaker taking a look at another EV automaker?

Gallery: 2009 BYD F3DM plug-in hybrid

[Source: VW]

Continue reading Volkswagen and BYD partner up for electric cars

Volkswagen and BYD partner up for electric cars originally appeared on Autoblog on Tue, 26 May 2009 07:58:00 EST. Please see our terms for use of feeds.

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