Byd, the Chinese car company, is planning to sell 9 million hybrid or plug-in cars by 2025. Backed by investment guru Warren Buffet, the company will aspire to be China’s number 1 automaker in the next few years.
However, Byd’s F3DM plug-in hybrids had not been sold so well last year. In august fewer than 100 cars have been manufactured. So if the company will be the world’s leading carmaker by 2025 more competition is needed. Toyota, currently the largest carmaker, sold 9 million cars and trucks last year.
More success will be expected with the e6 all electric car, that will be introduced later this year. This new five-passenger car carries a price tag of about $44.000, twice the cost of the F3DM plug-in hybrid. By selling the e6, Byd expects some support of the Chinese government which is very interested in greener cars and intends to buy the electric cars for fleet owners.
The e6 will appear on the US market in 2010. The car is excellently appropriated for a typical American family and has a range of 200 to 250 miles. As yet the e6 has not been tested on quality, crashworthiness and equipment and yet certified.
Despite some setbacks, the sale of green cars has been succesfull. Byd’s gaspowered F3 was the number 1 selling car in China three times this year. In the first eight months 250.000 cars were sold.
Byd’s stock surged about 650 percent the past year, thanks to rising sales and Warren Buffet’s fiat. Buffet earned a cool $ 1 billion after paying $230 million for a 10 percent stake . He is intending to raise his stake this year, accoring to the company’s chairman Wang Chanfu.