Photo: Michael Graham Richard
A Set Back, But the Future is Still PromisingBYD, the enormous Chinese battery-maker which has been branching out into automobile manufacturing, has decided to stop production of its F3e electric car for now. Apparently, the company "changed its mind after a market investigation and consultation with the dealers for everyone thought there were still problems with the supporting infrastructure and market environment at the moment and what the company needed were transitional products." What they mean is that they'll be sticking with their plug-in hybrids for the time being (the F3DM and larger F6DM).
Photo: Michael Graham RichardSomething doesn't quite add up in this story. It's possible that BYD is blaming external factors (charging stations, etc) for its own failure. After all, it hasn't been making cars for that long, and it's possible that it has trouble finding buyers. One thing that could help is BYD's recent partnership deal with Daimler; BYD's batteries combined with Daimler's car know-how could be a terrific combination and change BYD's luck.
In the meantime, Warren Buffett must be a bit disappointed by this (he has invested in BYD), but not too much since he's a long-term kind of investor.
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