The Chinese BYD e6 is somewhat a staple of Shenzhen taxi companies, racking up a combined 3.8 million miles since its introduction; there is now an electric e6 with a range of 190 miles which recently started selling in China. The car is a five-passenger tall wagon and is on track to increase electric vehicle sales in China from 33,000 last year to 554,000 by 2015. BYD is working with China Southern Grid, a utility company, to distribute home-based vehicle charging stations.
BYD itself is looking to expand its presence in not only China, but also the US; Berkshire Hathaway Chair Warren Buffet is one of its significant investors. BYD will be setting up shop in Los Angeles, providing 150 new jobs in the clean energy industry.
The current line of electric e6s cost about $57 grand, but due to government subsidies, a growing Chinese middle class will be able to purchase the cars for around $38,000.
BYD hopes that an early profit loss this year will be solved in part by the US launch and the e6. This past year BYD planned on selling 800,000 vehicles, but only managed to squeak out 519,800.
The good news is that BYD is set to far eclipse Japanese car makers in the EV business for the Asia Pacific region according to Pike research.
– By: Sawyer Sutton