BYD Going All Electric And Hybrid To Save Company

8 Апр 2014 | Author: | Комментарии к записи BYD Going All Electric And Hybrid To Save Company отключены
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BYD Going 100% Electric To Save Company

BYD, one of s larger automakers, recently a new strategic plan to save its ailing This follows BYD stock about 75% in the past year.

The has decided to stop producing gas and produce only electric and vehicles within two years.

The decision has come with from the BYD stakeholders, like US Warren Buffett, who are unhappy the current downturn in company BYD s net profit has collapsed in recent from $61.1 million years ago to only $13.1 last year.

BYD sold 458,000 vehicles in 2012, having an annual production of 700,000 units a year. first all-electric car, the sold less than units through the end of 2012.

Recently, BYD attempted to break the US market, a plan that has so far to materialize despite assertions the automaker would start by vehicles to the fleet market.

BYD did land a contract in for 10 all-electric buses  from its division, and has managed to sell a number of hybrids and EVs to local it is still having many getting its vehicle line the taxi and rental car status.

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BYD s business are wide-ranging, manufacturing everything batteries for personal electronics, to LED light bulbs, solar and electric and gasoline cars and There is talks of BYD selling off its panel division to make for the new electric and hybrid venture.

The BYD redirection, though, is a high-risk that could drive the into serious trouble, Yale Zhang, head of consulting firm Automotive

Yale Zhang also according to Reuters :

They know something we don t or they re going to take a long over 5-10 years, to this radical transition so there s little risk, in part to the possibility of big government for conventional hybrids.

It will be interesting to see how this out as this bold move make or break the troubled

MidAmerican Energy Holdings, a Buffett-controlled energy group, holds over 28 percent of BYD stock. bought into BYD for million, or HK$8 a share, in 2008. BYD shares have more than 30% since

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