A Plug-In Hybrid Goes on Sale, in China
12-19-2008, 05:14 AM
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A Plug-In Hybrid Goes on Sale, in China
December 18, 2008, 12:13 pm
A Plug-In Hybrid Goes on Sale, in China
By Richard S. Chang
**** Chuanfu, chairman and president of BYD Company, speaks to the media during the unveiling of the company’s F3 Dual Mode hybrid vehicle in Shenzhen, China. (Qilai Shen/Bloomberg News)
The questionable quality of Chinese cars has been the butt of many jokes, but it looks as though BYD Auto of Shenzhen, China, might be having the last laugh.
On Monday, BYD Auto began selling the first mass-produced plug-in hybrid car in the world.
Unlike conventional gas-electric hybrids, the F3DM can be charged from a wall outlet. It has a range of about 60 miles on a full battery charge. Its lithium-ion batteries can be fully recharged in as little as seven hours, said BYD, which stands for Build Your Dreams. And the batteries can be 50 percent recharged at a special station in 10 minutes.
The car also has a 1-liter gas engine, which, according to media reports (Treehugger and Autoblog Green), recharges the batteries to extend the range.
BYD Auto only began building cars in 2003. (Ryan Pyle for The New York Times)
For those of you keeping score, BYD Auto has beaten General Motors and Toyota in bringing a plug-in hybrid to market. The Chevrolet Volt goes on sale at the end of 2010. Toyota is planning a plug-in hybrid, also for 2010.
“The development of electric-powered vehicles is the best way for the Chinese auto industry to surpass other leading countries,” **** Changfu, BYD’s founder and chairman, told reporters at an unveiling ceremony in Shenzhen.
Mr. **** added that the F3DM, with a price of about $22,000, initially will be targeted at government agencies and corporate customers. (In a surreal event, Mr. **** drove the concept version of the car on the Cobo Center floor during the 2008 Detroit auto show.)
BYD Auto was founded by Mr. **** in 1995 as a manufacturer of cellphone batteries. Even though the company only began building cars in 2003, it has become one of the major players in the Chinese auto industry.
According to The Wall Street Journal, Mr. **** told reporters that the company plans to sell 350,000 total vehicles in 2009, which is nearly twice the number sold in 2008. The company plans to launch four new vehicles next year, including an electric car.
In September, Warren Buffett bought 9.9 percent of the firm, which may signal BYD’s entrance into the United States market in the near future.
Mr. **** said at the time: “If BYD were to enter the North American market, Mr. Buffett’s investment would enhance the BYD brand name.”
http://wheels.blogs.nytimes.com/2008...sale-in-china/
A Plug-In Hybrid Goes on Sale, in China
By Richard S. Chang
**** Chuanfu, chairman and president of BYD Company, speaks to the media during the unveiling of the company’s F3 Dual Mode hybrid vehicle in Shenzhen, China. (Qilai Shen/Bloomberg News)
The questionable quality of Chinese cars has been the butt of many jokes, but it looks as though BYD Auto of Shenzhen, China, might be having the last laugh.
On Monday, BYD Auto began selling the first mass-produced plug-in hybrid car in the world.
Unlike conventional gas-electric hybrids, the F3DM can be charged from a wall outlet. It has a range of about 60 miles on a full battery charge. Its lithium-ion batteries can be fully recharged in as little as seven hours, said BYD, which stands for Build Your Dreams. And the batteries can be 50 percent recharged at a special station in 10 minutes.
The car also has a 1-liter gas engine, which, according to media reports (Treehugger and Autoblog Green), recharges the batteries to extend the range.
BYD Auto only began building cars in 2003. (Ryan Pyle for The New York Times)
For those of you keeping score, BYD Auto has beaten General Motors and Toyota in bringing a plug-in hybrid to market. The Chevrolet Volt goes on sale at the end of 2010. Toyota is planning a plug-in hybrid, also for 2010.
“The development of electric-powered vehicles is the best way for the Chinese auto industry to surpass other leading countries,” **** Changfu, BYD’s founder and chairman, told reporters at an unveiling ceremony in Shenzhen.
Mr. **** added that the F3DM, with a price of about $22,000, initially will be targeted at government agencies and corporate customers. (In a surreal event, Mr. **** drove the concept version of the car on the Cobo Center floor during the 2008 Detroit auto show.)
BYD Auto was founded by Mr. **** in 1995 as a manufacturer of cellphone batteries. Even though the company only began building cars in 2003, it has become one of the major players in the Chinese auto industry.
According to The Wall Street Journal, Mr. **** told reporters that the company plans to sell 350,000 total vehicles in 2009, which is nearly twice the number sold in 2008. The company plans to launch four new vehicles next year, including an electric car.
In September, Warren Buffett bought 9.9 percent of the firm, which may signal BYD’s entrance into the United States market in the near future.
Mr. **** said at the time: “If BYD were to enter the North American market, Mr. Buffett’s investment would enhance the BYD brand name.”
http://wheels.blogs.nytimes.com/2008...sale-in-china/
12-19-2008, 05:29 AM
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With oil futures (temporarily) below $40/barrel, subsidized gas prices in China, and US automakers looking for help from taxpayers, Warren Buffett shows us how to invest in the future.
12-26-2008, 12:10 PM
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