Gasoline fuels comeback for China’s electric car maker BYD

22 Апр 2014 | Author: | Комментарии к записи Gasoline fuels comeback for China’s electric car maker BYD отключены
BYD e6 Electric Cars

Gasoline fuels comeback for electric car maker BYD

BYD Co Ltd ( BYD Company ). the Warren Buffett-backed company known for electric cars, is in the of a revival thanks to traditional vehicles.

BYD Co Ltd 1211.HK ( BYD Company ). the Warren Buffett-backed company known for electric cars, is in the of a revival thanks to traditional vehicles.


Its car sales jumped 25 to more than 250,000 in the first six months of this outpacing China’s overall market growth rate of 11 The vast majority of those gasoline-powered, not electric.

The recovery in gasoline car sales, account for half of BYD’s has raised investors’ hopes the company is once again to live up to the promise that big-name backers such as

Profits from those cars, as well as from batteries for mobile phones and handheld devices, can be funneled expensive research and development of cars, solar panels and futuristic green technologies.

BYD said on Sunday its first-half net rose to 426.9 million ($69.74 million), well of the 16.3 million yuan it in the same period a year helped by strong auto and an improvement in its solar cell

To be sure, it is too early to tell if the results mark the start of a recovery.

But BYD shares have than doubled in the past on investor enthusiasm over the improving profitability and hopes BYD could one day become China’s to Tesla Motors Inc ( Tesla Inc ). the popular California electric marker whose shares quadrupled this year.

fortunes took a turn for the in 2010, when its car sales tanking amid a series of issues and a slowing economy. year, a much-publicized deadly involving one of its electric taxis its share price, although an found BYD’s battery was not at

Wang responded to the sales by slowing expansion and restructuring the including streamlining its distribution and slashing the number of dealers by a to 800.

In the past, BYD made everything by itself, include wipers and paint. That was the of many quality issues, Yang Zao, analyst at KGI

Now, BYD has started to outsource and buy parts from suppliers, focusing instead on making key such as engines.

NEW GREEN

As the traditional car business stabilizes, BYD is up development of new energy vehicles.

One area BYD is focusing on is gasoline-electric People close to BYD, who are to BYD management’s thinking, told earlier this year the company might phase out the car business over the next years to embrace hybrid and electrified cars.

BYD e6 Electric Cars

As part of this refocus, BYD to launch Qin, a gas-electric in the fourth quarter, the company in an emailed statement to Reuters. It to export the model to European including France and Belgium, BYD

BYD is also gearing up to produce and Denza electric vehicles as of a joint-venture with Daimler AG ( AG ) aimed at appealing to wealthy Most of BYD’s electric are currently used as taxis and transport.

Its B9 electric buses are still a portion of the company’s total but BYD has signed several contracts year, including one to supply the cities of Los Angeles and Long and to Amsterdam’s Schiphol airport.

analysts, however, are skeptical of continued ability to post results.

While BYD has relatively technology to make both and hybrid EVs, we believe the market will be small, analyst Paul Gong adding that it takes for the consumer market to embrace vehicles.

Gong expects BYD to 2,100 pure electric in 2013, one-tenth of Tesla’s of 21,000 units. ($1 = 6.1210 yuan)

(This version of the story the Reuters stock code for Hong Kong-listed shares.)

by Norihiko Shirouzu and Emily

By Samuel Shen and Kazunori

BYD Electric Cars Electric Cars
BYD Electric Cars Electric Cars
BYD Electric Cars Electric Cars
BYD Electric Cars Electric Cars

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