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BYD Co. beat Renault and Nissan to win a tender in Brussels for supplying local operators with 50 electric-powered-taxis. Thirty-four BYD e6 cars were bought by taxi operators in Brussels. Luigi Marrocco, chief executive of Taxis Bleus, remarked that while he would want a European brand than a Chinese one, BYD showed its EV taxis were above those of Nissan and Renault in terms of size, comfort and range.
He disclosed that Taxis Bleus bought 13 BYD e6 cars, one Renault Zoe and three Nissan Leafs.
The taxi company, however, dismissed Tesla Motors Inc.'s Model S as too expensive. Taxis Bleus operates 320 cabs in Brussels. The transaction could be a blow to Renault-Nissan CEO Carlos Ghosn, who has been trying to find buyers for its Renault Zoe and Nissan Leaf EVs. As for BYD, the number of e6s ordered might be small, but defeating Renault and Nissan in its home region could be a boost.Read the entire article BYD outsells Renault and Nissan in Brussels EV taxi tender
The first Chinese vehicles will arrive in the United States by the end of 2015 when BYD Co. launches around four models in the country. Stella Li, the senior vice president in charge of BYD’s US operations, told Bloomberg in an interview that the Chinese carmaker wasn't ready when it initially tried to enter the US vehicle market in 2010, noting that it is more prepared this time.
"Back then, we had passion, but we had no brand, no history, no capital and no competitive advantage," Li remarked, adding that BYD has become more fashionable and has improved its design and safety. BYD's plan to enter the US market shows how Chinese carmakers are getting ready to shake up the US car market just like what Japanese and South Koreans did decades earlier.
"Entering the U.S. market carries more symbolic meaning to brand building than actually boosting its bottom line," said Han Weiqi, an analyst with CSC International Holdings Ltd., adding that Chinese carmakers need to make sure that their offerings have sound quality to avoid adverse impact.Read the entire article BYD seeks to bring 4 models to the US in 2015
BYD’s profit for the first half of 2012 fell by 94%, attributed to the drop in Chinese auto sales domestically and internationally. BYD, a Chinese car and battery manufacturer, is 10%-owned by American investor Warren Buffett. It estimates that overall losses for 2012 will be about 75% to 95%. BYD enjoyed the booming years of 2009 and 2010 but it struggled with the impact of the declining economic condition.
BYD’s net income fell from 275.4m Yuan (£27.4m) between January and June 2011 to 16.3m Yuan (£1.6m) for the same period in 2012. BYD said that its business is “fairly directly affected” by the shifting economic conditions domestically and overseas. The demand for BYD’s core businesses in key markets is affected by the future downward pressure on the international and Chinese economies.
Its performance is also affected to a certain degree. The surge in Chinese car sales, which earned it the title of the world’s biggest auto market in 2009, stopped in the middle of 2010 when the Chinese government discontinued its subsidies for buying a car. Another factor that made BYD’s status worse is its solar panel business, which incurred huge losses.Read the entire article BYD profits for the first half of 2012 fell by 94%
Flammable fluids that leaked from a BYD electric car battery could have caused a fire after a high-speed collision in China in May, according to BYD executive Stella Li. She is referring to an accident that took place in Shenzhen, China, on May 26, 2012, when a Nissan GT-R sports car cruising at least 180 kph (110 mph) collided with the BYD e6 taxi that burst into flames afterwards.
Local police are still probing the crash. Li defended the safety of the electric cars that BYD designs and sells in China, telling Reuters that no carmaker could design a car that could weather a 180-kph crash coming from the backside. Li explained further to Reuters that it may weeks or months before police could make a conclusion.
Li said that there is "a big chance" that liquid electrolyte - one of the three main components in a battery – may have leaked after the crash. According to Li, sparks from high-voltage cables or screeching wheels could have caused the liquid electrolyte to catch fire.Read the entire article Leaking BYD electric car battery may have led to fire in China crash
Denza is the name of the new joint venture brand entered by Daimler and Chinese car maker BYD Auto, according to sources from Mercedes-Benz. Denza is formed as a brand that only caters to the Chinese market. Denza will serve a lineup of affordable electric powered vehicles – the first of which will be presented on April 23 at the Beijing motor show.
The first Denza model is based on the discarded underpinnings of the first-generation Mercedes-Benz B-class, a car that was initially meant to use batteries placed in its flat floor structure. This first model was developed in a joint engineering effort between Daimler and BYD, a partnership made official in 2010 by Daimler chairman Dieter Zetsche and BYD president Wang Chuanfu.
Not much is known about the new zero-emission five door hatchback but according to Autocar sources, a team from Daimler has led the styling, body and chassis engineering. Meanwhile, BYD offers expertise on the electric driveline system. Before BYD became active in the automotive industry, BYD had become famous as the lithium ion battery supplier for Nokia, Motorola and other mobile phone manufacturers.Read the entire article Daimler and BYD Auto’s new joint venture brand will be called Denza
Electric transport is very much accepted by the public in China, giving this country the opportunity to be a major innovator, according to Olivier Boulay, chief of Mercedes-Benz Advanced Design Center in China. He pointed out that electric scooters are a common sight in China. They don’t use the most advanced technology but the sight of them is inspiring. Mercedes-Benz had opened a design center in Beijing in July -- its first one in China.
This studio is where vehicles for Mercedes-Benz and its joint venture with BYD Co. would be designed. Boulay is the designer tasked for the electric car that Mercedes is developing with BYD.
They will debut a concept EV at the Beijing auto show this April. Meanwhile, a production version is expected to arrive in 2013. Boulay revealed that his Beijing studio will add 8 more designers to its current dozen in 2012.Read the entire article Olivier Boulay will design the electric car that Mercedes-Benz is developing with BYD
Shenzhen BYD Daimler New Technology Co. Ltd. (BDNT), which is the R&D joint venture of Daimler AG with BYD Company Limited, will unveil a design concept of the future joint venture electric vehicle during the Auto China in Beijing in April 2012. BDNT will also showcase its green vision, the new brand’s identity including logo, positioning and brand name.
The concept vehicle is going to provide our first outlook on the fully electric vehicle of BDNT that is set to be launched in 2013. For the meantime, the Shenzhen-based joint venture is creating positive progress on the production model of the vehicle.
Lately, work on building up the EV's first prototypes has started with the aim to have them operational by springtime in 2012. The joint venture will utilize Daimler’s knowledge in EV architecture and safety, and BYD’s expertise in battery technology and e-drive systems.Read the entire article Daimler, BYD to unveil a concept of the future joint venture EV at the in Beijing Auto Show
In the first half of 2011, BYD Co.’s profit declined by 89% year-on-year to 275 million yuan ($43 million). The reasons cited were a drop in vehicle sales, fierce competition, and more expensive labor and materials.
The private Chinese company, which has an electric car partnership with Daimler AG, is backed by billionaire investor Warren Buffett. Its sales in the first six months fell by 23.4% to 220,131 vehicles compared to the previous year.
Its auto sales revenue decrease by 26.5% to 9.5 billion yuan and its gross profit margin fell by 10.7 percentage points to 16.2%. With the termination of the tax incentives by the government, sales plunged for BYD's mainstream models, including the F3 compact car, the F6 mid-sized sedan and the F0 microcar.Read the entire article BYD profit fell 89 percent year-on-year to $43 million
BYD Co. reported an 84 percent drop in first-quarter profit, the steepest decrease that the company has experienced in more than three months in Hong Kong trading. The company, which is a China-based vehicle manufacturer backed by Warren Buffett, decreased as much as 7 percent after a surge in financing expenses and declining sales.
Its first-quarter net income fell from 1.7 billion yuan a year earlier to 266.7 million yuan ($41 million). The company’s car sales decreased for 10 straight months through May due to the slow growth in demand as well as the introduction of new vehicle models by competitors such as Nissan Motor Co. and General Motors Co.
The company’s F3 sedan, which was launched in 2005, dropped from first to fourth in rank as the bestselling vehicles in China for this year, forcing the company to reduce prices for its lineup in February.Read the entire article BYD reported an 84 percent drop in first-quarter profit
Chinese vehicle manufacturer BYD Co., which is backed by Warren Buffett, had priced its initial public offering in Shenzhen at 18 yuan a share, the company said in a statement on Sunday to the Shenzhen Stock Exchange.
With this price, the company will raise 1.42 billion yuan ($219 million) in the IPO, weighed down by worries over its poor performance and weak investor sentiment. This is lower than what the company had initially expected to raise, which is 2.19 billion yuan from the share sale.
At 18 yuan a share, the IPO valued the company at 15.9 times consensus 2011 earnings forecasts and marked only a marginal 0.8 percent premium to the company's Hong Kong-listed shares.Read the entire article BYD planning to raise $219 million in China IPO
BYD Co. Ltd. has been regarded as the most likely Chinese carmaker to succeed at offering an all-electric car in the U.S. but its future has become murky as a third party has given Reuters and WikiLeaks copies of diplomatic cables that provide details of its unbecoming behavior. During the time when the financial crisis was at its worst, Warren Buffett invested in BYD.
It was an unexpected move for the billionaire as this foreign electric car start-up had a reputation of copying competitors and some of its franchised dealers have been found to put other companies' logos on its own vehicles. Buffett invested $232 million into BYD, taking a 9.9% stake.
In fact, pictures of Buffett shaking hands with Chairman Wang Chuanfu are displayed at the BYD showrooms, having more impact than participating in auto shows and offering more innovations.Read the entire article Warren Buffett may have erred in investing in copycat BYD
For the fourth straight appearance of BYD Co. Ltd. at the Detroit COBO Center for the 2011 North America International Auto Show (NAIAS), a series of United States-ready green-technology vehicles and products are on display.
BYD has presented its "Three Green Dreams" Strategy and its "Green City Solutions," its green electric vehicle series, and a portfolio of eco-friendly products such as solar panels, home energy storage units and energy-saving LED Lighting.
The new five-seat crossover -- the BYD e6 Premier (2012 Year Model) --- features a more dynamic and sporty exterior design. The e6 Premier is equipped with BYD Iron-phosphate "FE" battery and it’s claimed to have a range of 300 km (or 186.4 miles) on urban roads, while its projected maximum speed is 140 km/h (or 87 mph).Read the entire article BYD showcases green-technology vehicles at 2011 Detroit Auto Show
Chinese carmaker BYD seeks to test-market an all-electric battery car in the U.S. in 2011, the Wall Street Journal reports. This model had appeared at the Detroit Auto Show in January and had been expected to arrive in the U.S. this year; however, the project was set back by a year due to technical problems.
This delay is a huge blow to China's auto sector, which is hoping to catch up to the global manufacturers.
In an interview with the Wall Street Journal, Stella Li, BYD's senior vice president and head of its U.S. operations, said that these setbacks were a result of BYD's intentions to widen the space in the back where big battery packs are expected to occupy.Read the entire article BYD’s all-electric battery car to undergo testing in the U.S. in 2011
Because of decreasing sales, BYD Co. had posted a 99% drop in third-quarter profit – its biggest fall in nearly two years in Hong Kong trading. BYD, the Chinese carmaker backed by Warren Buffett, had the second-biggest decline among 982 stocks in the MSCI Asia Pacific Index.
The shares declined 10% to close at HK$51.05, the biggest drop since November 2008, after BYD posted net income of 11.34 million yuan ($1.7 million) for the three months ended Sept. 30.
Galant Ng, an analyst at Taifook Securities Group Co. in Hong Kong, said that profit was “pretty disappointing” and had dropped “well below” the company’s estimations.Read the entire article BYD posted a 99 percent drop in third-quarter profit
Daimler AG and China's BYD Co. have “made good progress” on the development of an electric car and now have specifications for the model in place, according to Daimler AG CEO Dieter Zetsche.
At a forum in Shanghai last Saturday, Zetsche revealed that the partnership will soon decide on the car’s design.
He said that the specs for this car have been defined so the companies now “know the specific details this car should fulfill.” He said that soon, they will define the shape and form of the car -- the prerequisites for starting development itself and its execution.Read the entire article Daimler and BYD made good progres on developing an EV, says Dieter Zetsche
The Ministry of Land and Resources in China has revealed that BYD Co. Ltd. has been ordered to pay a fine of CHY2.95 million ($442,000) and to give up seven factories after a dispute over land use in central China.
BYD, which is a Chinese carmaker partially owned by billionaire Warren Buffett's Berkshire Hathaway Inc., will have its factories in Xi'an, Shaanxi confiscated. Before this ruling, BYD had already been suffering due to declining domestic sales and scaled-back plans to sell electric cars in California.
In a separate report, BYD said that its auto sales in September fell in 25 percent, even as the deliveries of its rivals (including SAIC Motor Co. and General Motors Co.) have grown.Read the entire article BYD factories confiscated by the Chinese government
Sometime in 2012, BYD Auto Co. will offer plug-in hybrid vehicles in Europe in partnership with German utility company RWE Effizienz GmbH. BYD will supply its F3DM plug-in hybrid and e6 electric vehicle while RWE’s role is to provide quick-charge stations.
In a statement, Yongping Chen, BYD Auto's Europe manager, said that BYD aims to bring its electric vehicles to Europe, and that its EVs will start selling “around 2012 in some countries.”
Chen said that BYD will offer hybrids and EVs in countries that give sales incentives for EVs, and where there are charging stations available. No confirmation has been given by these companies on which countries they plan to sell EVs to but they did confirm that they intend to produce an EV fleet for a trial program in Germany.Read the entire article BYD planning to sell its plug-in hybrid vehicle in Europe in 2012
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