28 Apr '14, 8pm

China Electric Vehicle Manufacturer Relies on Government Support

China Electric Vehicle Manufacturer Relies on Government Support

I gave quite a bit of attention a few days ago to U.S. electric vehicle (EV) sensation Tesla (Nasdaq: TSLA ), so it’s only fair that I follow up by writing about China’s homegrown EV superstar BYD (OTC: BYDDF ; HKEx: 1211; Shenzhen: 002594), which has just released quarterly results that look quite disappointing. The only things that look slightly encouraging in this latest report are the fact that billionaire investor Warren Buffett continues to hold onto his 10 percent stake in the company, which he bought in 2008, and that BYD remains profitable. But even the profits are due to strong support from Beijing, under its program to encourage clean-energy vehicle development. If I had to describe BYD’s recent performance in a single thought, I would say that this company is quite good at setting up pilot programs for its EVs but has difficulty translating those programs into ...

Full article: http://www.renewableenergyworld.com/rea/blog/post/2014/04...

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BYD Runs On Government Support

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a few days ago to US electric vehicle (EV) sensation Tesla (Nasdaq: TSLA ), so it’s only fair that I follow up by writing ...

via @businessgreen

via @businessgreen

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