Warren Buffet put $232 million into BYD Co., a Chinese EV manufacturer with aspirations of competing in North America, virtually putting the company on the map. Diplomatic cables revealed by WikiLeaks raise some serious questions, as BYD is accused of blatantly copying technology and designs, and selling cars at cost to artificially inflate its market [...]
Chinese battery and car maker BYD Co. plans to finally begin test-marketing an all-electric battery car in the U.S. next year. The company is also in talks with officials in LA to supple e-buses to the city, which could in turn lead to a manufacturing plant in the city. The car was supposed to be [...]
BYD (Build Your Dreams) Co., the Chinese automaker that is backed by Warren Buffet, reported its worst loss in almost two years in Hong Kong trading after 3rd quarter profit dropped 99 percent due to slow sales. Shares of the company declined 10 percent, the biggest drop since Nov. 2008. BYD posted a net income [...]
A little less than a month ago, Warren Buffett was pretty vocal about his company, Berkshire Hathaway’s, investment in Chinese automaker BYD Co. Sadly, BYD was recently fined and ordered to surrender seven factories due to a dispute over land use in central China. The Chinese automaker received a fine of 2.95 million yuan ($442,000 [...]
An endorsement from Warren Buffett is as close to a gold-seal of approval as their is in the investment world, and that is just what Chinese automaker BYD Co. has recently been adorned with. Buffett, whose company Berkshire Hathaway Inc., which owns a stake in BYD, said on a recent visit to China that “BYD [...]
We’re not sure how Carlos Ghosn feels about this but Daimler has just announced that it has signed a joint venture contract with BYD Company Limited to produce electric-vehicles in China. “BYD and Daimler will invest RMB 600 million to use as registered capital for the Joint venture,” Daimler said in a statement. “The new [...]
Daimler AG denied reports that it will sell Maybach, after Chinese media reported that BYD Co. Ltd. was considering buying the uber-luxury brand. The Guangzhou Daily and many other local media said that BYD was weighing the possibility of taking over Maybach from Daimler. “Maybach is an important part of Daimler’s product portfolio. There is [...]
BYD Co, a Chinese automaker and battery maker backed by U.S. billionaire icon Warren Buffett, has posted a forecast-beating fourth quarter. The news comes as Beijing’s policy initiatives boosted demand in China, the world’s largest car market. BYD, which stands for “Build Your Dreams,” earned 1.46 billion yuan ($214 million) in the fourth quarter due [...]
According to Hurun Report’s annual Hurun China Rich List, Wang Chuanfu is China’s richest man. Chuanfu, founder and chairman of BYD (Build Your Dreams) Auto, has a personal fortune estimated at $5.1 billion. American investor Warren Buffet, currently the world’s second richest man (correct me if I’m wrong), invested $230 million in BYD last year. [...]
Chinese automaker BYD (Build Your Dreams) is looking to finalize plans to sell an all-electric car in the United States by next year. According to Chairman Wang Chuanfu, BYD, which is part-owed by Warren Buffet, plans to use money from a new-share sale in China to help pay for its entry into North America. The sale [...]
