BYD EVs coming to the US next year
In 1995, BYD became another Asian company entering the advanced battery space, with a strong focus on automotive technologies. Just several years ago, however, BYD decided it was time to put its technology into its own vehicles.
This year, BYD expects to sell 400,000 vehicles, including a few plug-in hybrids.
Obviously, such an ouput is largely insignificant compared to Ford or GM, however, BYD has achieved this production rate in just a few years. Moreover, by 2025, BYD believes it will be producing more vehicles than Toyota.
And investors like Warren Buffet are buying into this long term potential.
Certainly, it will take time for BYD to appeal to US consumers, however, when this does happen – and it will happen – China could become a killer of American and electric vehicles. Not only will BYD have access to cheaper battery and auto manufacturing capabilites, but also better and cheaper access to lithium and rare earth metals.
Then again, Mr. Buffett isn’t always right, but if he is, won’t it be awfully difficult for US automakers – even Toyota as well – to compete with BYD, especially in advanced, fuel efficient technologies and their slim profit margins?
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