BYD China’s ElectricCar Star Faces Steeper Challenges

27 Апр 2014 | Author: | Комментарии к записи BYD China’s ElectricCar Star Faces Steeper Challenges отключены
BYD e6 Electric Cars

BYD, China’s Electric-Car Faces Steeper Challenges

BYD e6

carmaker BYD is facing tough ahead, following reports its stock has fallen 43 percent its February high.

As China’s for electric vehicles, BYD is best-known in the for its e6 electric crossover, and being by billionaire entrepreneur Warren

Buffett bought a 10 percent in BYD back in September 2008, and the initially seemed to be heading electric vehicles, pre-empting the of several other manufacturers.


Falling stock

The New York reports that BYD’s has fallen as China’s increasing classes buy more prestigious from other makes, and the electric car industry has resulted in sales.

BYD is turning its attention to vehicles instead. but manufacturers other countries—notably Japan—have had a head-start on the technology. That has also stalled plans to the e6 and other electric vehicles to the

The recent fatal accident an e6 taxi and Nissan GT-R cast doubts over the safety, the sheer severity of the 110 mph doing little to quell that the ensuing fireball was due to related to the battery or electrical All the taxi’s passengers died in the

Though the share price has a little since the accident, sales are still down by 8 from January to April, market growth of 6 percent the same period.

Much of the problem lies doubts that BYD can compete in a where increasingly wealthy are moving away from basic vehicles to more products. Sales have hit harder by the government’s lottery of plates, many of which are put on more expensive cars foreign brands.

BYD e6 Electric Cars

Subsidy difficulties

Two of China’s BYD dealer chains have stopped paying advance of $18,850 on the maker’s electric according to Reuters .

The subsidy up over a third of the cost of the but buyers will now have to pay price for the cars and then the subsidy back from the themselves—making it just a little attractive in the showroom.

Some of the claim that it takes as of a year to claim back the which impacts on their Others say the turnaround is only two but the net result is that the consumer now has to pay and wait longer to claim the subsidy—further harming sales.

With poor sales, problems and high-profile accidents, troubles don’t look set to end any soon.

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