Hybrid Car Market: The Chinese car company, BYD, backed by investment guru Warren Buffet, has big dreams to dominate hybrid car market. BYD expect their company to be China’s number one automaker in about five years and become the world’s leading automaker in 2025. BYD Company plan to selling green cars about 9 million hybrid or plug-in cars in 2025, according the company executives. This total number of cars and trucks selling by Toyota last year, the world’s largest automaker.
To make real its goals to dominate global hybrid car market, they will have to raise its pace. According to Gasgoo, a website reporting on the Chinese car industry, BYD became the first carmaker to sell a plug in hybrid car in the Earth in December 2008, but sold less than 100 F3DM plug-in hybrids in August.
The company will have an even bigger challenge selling its e6 all-electric car, with a price tag of about $44,000-twice of the F3DM plug-in hybrid cost. BYD Company will depend on the Chinese government, which has a huge interest in green vehicles, to purchase e6 vehicle for fleets, when it promotes the vehicle in China in the end of this year. The company signed a memorandum of understanding with German Automaker – Volkswagen – in May, to discover options for collaboration on hybrid cars and electric vehicles to dominate hybrid car market in the world.
According to the New York Times reported earlier in this year, China plans to boost its annual production of hybrids and electric vehicles from 2,100 (last year) to 500,000 in the next 2 years.
In 2010 BYD plan to bring the e6 to the Uncle Sam country. Not similar with the small city – oriented electric runabouts on slate from recognized automakers, the E6 is a five passenger wagon capable of carting a representative American family. In addition, the E6 has a range of 200 to 250 miles. Yet, BYD’s cars have not yet been expert for sale, and face questions on quality, equipment, and crashworthiness.
In spite of these hurdles with selling green cars, in general sales of BYD have been brisk. In the first eight months of this year, they sale have been brisk. BYD sold about 250,000 cars in the first eight months of the year – on ‘rate’ more than sales and profits of the last years. They BYD’s gas-powered F3 was the number one selling car in China three times this year.
The increasing sales and Buffet’s imprimatur helped BYD’s stock rise about 650 percent during the past year earning Buffet a cool $1 billion after paying $230 million for a ten percent stake last year. Wang Chuanfu, the chairman of BYD, earlier in this month said that Buffet, who currently owns a ten percent interest, planned to increase his stake in BYD.
Hybrid Car Market Video; The Risen of Hybrid Cars
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