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Posted by: Bruce Einhorn on March 08, 2010<\/p>\n
Can an automaker from China capitalize on the Toyota recall scandals? With the reputation of the Prius tarnished, the Chinese company backed by Warren Buffett, BYD, could hardly have found a better time to roll out its green cars in the U.S. and Europe. The company attracted Buffett\u2019s attention in 2008 thanks to its green-car strategy, and a BYD spokesman today told Bloomberg News the company will begin selling its electric and hybrid cars in Europe<\/a> next year. BYD hopes to start sales in the U.S. even earlier, with Chairman Wang Chuanfu saying in January that American drivers might be able to get behind the wheel of BYD cars by yearend. Helping BYD reach its export goals is a new partnership with Daimler; the two companies announced on March 2 plans to cooperate on building electric vehicles. <\/p>\n BYD has plenty of obstacles still to overcome. As the Bloomberg News story points out, the company only sold 48 of its hybrids in China last year and hasn\u2019t even begun selling its E6 electric car in the Chinese market. Still, the Toyota scandal could prove to be a great equalizer for BYD. Before the recalls, many people would have doubted BYD\u2019s ability to close the quality gap with Toyota. Now that the market leader has stumbled so badly, BYD has an easier job selling consumers on the idea there\u2019s not that much difference between itself and mighty Toyota.<\/p>\n Share Investor Links<\/span><\/a><\/a><\/p>\n Share Investor Blog<\/a> – Stockmarket & Business commentary Download the 2009 Warren Buffett Letter & 2009 Annual Report to Berkshire Hathaway Shareholders<\/span><\/a> Recommended Amazon Reading<\/span><\/p>\n
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