Autoblog

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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Detroit 2009: BYD e6 - world's first production dual-mode plug-in hybrid crossover

Frank Filipponio — Mon, 12 Jan 2009 17:02:00 EST

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

Click above for high-res gallery of the BYD e6 crossover

The "BYD" in BYD Autos stands for Build Your Dreams, and this Chinese company is dreaming ~~big~~ huge. BYD is bent on becoming the world's largest automaker, and in order to achieve that goal, it's launched a series of ambitious projects that it hopes will reach the streets before larger, well-established carmakers. At the Detroit Auto Show, BYD stepped onto center stage with plenty of interesting product, including the world's first dual-mode plug-in hybrid. The F3DM was released in BYD's home market earlier this month, and in Detroit it debuted the world's first production plug-in hybrid crossover, the e6. Both vehicles could hit the American and European markets by 2011, but for the time being, they're only available in China.

As we told you last month, all of these impressive developments have been made possible with the help of a $230 million investment from Warren Buffet. The e6 features BYD's "Fe" battery which receive a 50% recharged in a claimed ten minutes. Granted, the remaining 50% requires another hour or so, but half a charge is good for about 125 miles, which should ease customers' range anxiety. The e6 has a simple but pleasant shape and adequate room inside, so if the price is right, it could attract a broad demographic of buyers -- and that's what BYD is counting on. Check the e6's press release is after the jump.

Gallery: Detroit 2009: BYD E6

Continue reading Detroit 2009: BYD e6 - world's first production dual-mode plug-in hybrid crossover

Detroit 2009: BYD e6 - world's first production dual-mode plug-in hybrid crossover originally appeared on Autoblog on Mon, 12 Jan 2009 17:02:00 EST. Please see our terms for use of feeds.

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Report: BYD plans two more electric cars in 2009

Jeremy Korzeniewski — Mon, 29 Dec 2008 09:27:00 EST

Filed under: Detroit Auto Show, Hybrid, Sedan, China, Green

BYD, which stands for Build Your Dreams, is a Chinese company with huge ambition to become the world's largest automaker. If there's any chance of making that monumental task a reality, the company will need some amazing products, a stage to present them to the world and a little luck. At least one of those requirements has been met, as BYD is set to capitalize on Nissan's absence at the Detroit Auto Show in January by placing its products right on the main floor with all the rest of the major automakers. BYD's working on the product problem too, having just released its first plug-in hybrid, called the F3DM, in its home market ealier this month. If that weren't enough, the automaker reportedly plans to release two more all-electric models in 2009, with the goal of bring its products to the crucial American and European markets in 2011.

All of these impressive developments have been made possible with the help of a $230 million investment from Warren Buffet. Much like the upcoming Chevy Volt, the BYD F3DM and F6DM sedans and the E6 van rely on an electric motor and an on-board battery pack to provide motive force for the first 60 miles, after which a normal gasoline-powered engine kicks in to keep the party going. Needless to say, we'll keep an eye out for the budding Chinese automaker next month in Detroit.

Gallery: Detroit 2008: BYD's F6 DM plug-in hybrid

[Source: Gas2.0]

Report: BYD plans two more electric cars in 2009 originally appeared on Autoblog on Mon, 29 Dec 2008 09:27:00 EST. Please see our terms for use of feeds.

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Moving on up! Chinese automakers move out of Cobo basement thanks to Detroit no-shows

John Neff — Tue, 25 Nov 2008 17:28:00 EST

Filed under: Detroit Auto Show, China

With the pull out of Porsche, Suzuki, Mitsubishi, Ferrari, Land Rover and Rolls-Royce, Nissan and Infiniti from this year's Detroit Auto Show in January, there's a lot of empty space on the show floor of Cobo Hall that needs to be filled. Chinese automakers will be the direct beneficiary of everyone's lack of interest in Detroit, as both BYD Auto and Brilliance will be moved out of the basement, otherwise known as Michigan Hall, and onto the main floor of Cobo for the first time. They'll be occupying the space formerly reserved for Mitsubishi and be positioned elbow-to-elbow with mainstream manufacturers that actually do sell cars in the U.S. While Chinese automakers have displayed at the Detroit Auto Show for the past few years, the closest they ever got to the main floor was the lobby when Geely was the first Chinese automaker to exhibit there back in 2006. At this rate, we expect Cobo Hall to be fully owned by the Chinese by the end of next year.

[Source: Automotive News, sub. req'd]

Moving on up! Chinese automakers move out of Cobo basement thanks to Detroit no-shows originally appeared on Autoblog on Tue, 25 Nov 2008 17:28:00 EST. Please see our terms for use of feeds.

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Warren Buffet recharges his batteries with investment in BYD

Jonathon Ramsey — Wed, 01 Oct 2008 09:58:00 EST

Filed under: Hybrid, China, Technology

Chinese battery manufacturer BYD can now be mentioned in the same breath as Goldman Sachs: both have recently been given the blue-chip imprimatur by U.S. billionaire investor Warren Buffet. The Oracle of Omaha's MidAmerican Energy Holdings has bought a 10-percent stake in BYD for $230 million.

BYD has big plans for its lithium-ion battery work and its automotive division. The company's automaking arm builds - or clones, depending on your viewpoint - cars that it intends to eventually export around the world, including America. Its ultimate aim is create its own cars that run on its own batteries, like the e6. Assuming that BYD gets the batteries to work, and then can sell them to other automakers, the company will have a huge competitive advantage. If it can sell its cars, that is.

Buffett's investment will help BYD achieve that, and should help Buffett make even more money. BYD says another planned use of that $230 million is to accelerate its move into the U.S. market, which was planned for 2010. When they finally do arrive, we'll see if Buffett has as much faith in their vehicles as he does in their batteries.

[Source: IHT]

Warren Buffet recharges his batteries with investment in BYD originally appeared on Autoblog on Wed, 01 Oct 2008 09:58:00 EST. Please see our terms for use of feeds.

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BYD introduces the Keyless Entry Wristwatch

Jonathon Ramsey — Thu, 24 Apr 2008 17:57:00 EST

Filed under: Gadgets, China

Not even James Bond has one of these: a watch that performs the functions of a keyless entry fob for your car. Developed by (or for) Chinese car manufacturer BYD, the gadget is made only for the F8 model. Press the top button on the right, and the car is locked, press the bottom button, the car is unlocked.

The watch also has a starter function, but it's not labeled on the bezel like the others. Since it has a manual movement, you don't need to worry about a battery going dead as long as you wear the watch... and move. No word on whether you need to wind it in case you don't wear it. But come on now, it's not like you could stay away from your BYD F8 long enough for the watch to stop, is it? And as the brochure states, it even tells time -- which is not a bad thing for a watch.

[Source: The Tycho]

BYD introduces the Keyless Entry Wristwatch originally appeared on Autoblog on Thu, 24 Apr 2008 17:57:00 EST. Please see our terms for use of feeds.

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Beijing '08 Preview: BYD e6 electrifies family hauling

Alex Nunez — Thu, 17 Apr 2008 12:58:00 EST

Filed under: Hybrid, Minivan/Van, China, Green, Misc. Auto Shows

When Auto China (a.k.a. the Beijing Motor Show) opens next week, BYD will pull the wraps off its e6, an EV crossover/MPV with a front end similar in appearance to the JDM Honda Odyssey. Unlike Honda's people-mover, the e6 runs exclusively on batteries. Its operating range is stated as being 300 km (186 miles) on a full charge. Said batteries, we're assuming they're lithium-ion (the translation from Autoblog Chinese is a little dodgy), can be charged via a 220V outlet. If a quick-charger is used (details of which are not yet available), 15 minutes gets the driver an 80% charge. A completely respectable zero-to-100 km/h (62 mpg) time of ten seconds is achievable, along with a maximum speed of 160 km/h (99 mph). The e6 battery pack lives under the rear seats, where BYD says provides they're well-protected in the event of a crash. BYD says that the e6 could go into production within two years. We'll look for more updates when the show gets underway.

[Sources: AutoblogGreen via Autoblog Chinese, Autoblog Spanish]

Beijing '08 Preview: BYD e6 electrifies family hauling originally appeared on Autoblog on Thu, 17 Apr 2008 12:58:00 EST. Please see our terms for use of feeds.

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China's F1 entry... sorta

Noah Joseph — Tue, 23 Oct 2007 10:01:00 EST

Filed under: Spy Photos, China

There have been many pretenders to the throne of "F1 car for the road". Ferrari, McLaren... even newcomer Caparo has joined the frey. But this has to be the farthest contender off the mark, if not the most worthy of the name "pretender" at least.

Our friends at The Hollywood Extra have a spy shot and an artist's rendering of a clone, of all things, wearing the F1 nameplate. The car, which appears to be a carbon copy of Toyota's cut-price Aygo, is made by Byd, one of the many Chinese automakers turning out carbon-copy clones of mainstream vehicles already on the market elsewhere in the world. The shocker: it's purported to have a list price equivalent to $3,500 in Chinese Yuan. That's right, the price of this car is probably less than a single tire on an actual F1 car.

[Source: The Hollywood Extra]

China's F1 entry... sorta originally appeared on Autoblog on Tue, 23 Oct 2007 10:01:00 EST. Please see our terms for use of feeds.

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Chinese Byd for entry into sports car market

Scott Davis — Sun, 05 Nov 2006 10:45:00 EST

Filed under: Convertible, China

From many angles, the F8 has a definite Mercedes-Benz SL look to it. Scheduled to be unveiled at the Beijing Auto Show by Chinese automaker Byd Auto, the hardtop convertible is the first one in China with independant intellectual property rights. Byd says that the F8's hard-top can be lowered in 25 seconds with the touch of a button. It's funny the company would bother to engineer its own hydraulic hardtop mechanism when it relies so heavily on the designs of other automakers. In 2005, it began selling the F3 that looked more than a bit like a Toyota Corolla, and soon it will also release the F6, which has strong BMW 7-Series overtones. (See both cars after the jump.)

The F8 will also be equipped with features such as ABS, four airbags, electric windows and a DVD player. An official U.S. launch date, yes we said U.S., is TBD, but Byd says the F8 should hit our shores priced about $26,000.

See the F3, F6 and F8 after the jump.

[Source: edmunds.com]

Continue reading Chinese Byd for entry into sports car market

Chinese Byd for entry into sports car market originally appeared on Autoblog on Sun, 05 Nov 2006 10:45:00 EST. Please see our terms for use of feeds.

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