Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

1/12/2014 (1 year ago)

Catholic Online (www.catholic.org)

Backed by Warren Buffet, four models to be introduced at end of 2015

The manufacturing powerhouse that is modern China has yet to make inroads into the automotive industry. That may soon change, The BYD car, manufactured in China, are set to hit U.S. showrooms at the end of 2015.

BYD plans to open a factory in Sao Paolo, Brazil during the soccer World Cup that starts in June to assemble its K9 electric buses.

BYD plans to open a factory in Sao Paolo, Brazil during the soccer World Cup that starts in June to assemble its K9 electric buses.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

1/12/2014 (1 year ago)

Published in Business & Economics

Keywords: BYD, China, cars, U.S. dealers, electric cars


LOS ANGELES, CA (Catholic Online) - BYD says they plan to introduce about four models for its U.S. debut. Though BYD wasn't ready when it earlier sought to enter the U.S. car market in 2010, the company is more prepared this time, Stella Li, the senior vice president in charge of the company's U.S. business said in an interview.

The Chinese are seeking to make impact upon the U.S. car market as the Japanese and South Koreans did decades earlier. Geely and Chery Automobile Co. have made such predictions as far back as 2005, though they've yet to sell their first car in America.

Help our brothers and sisters in the Philippines by going here ...

"Entering the U.S. market carries more symbolic meaning to brand building than actually boosting its bottom line," Han Weiqi, an analyst with CSC International Holdings Ltd. in Shanghai said. "They really need to make sure cars they deliver there have sound quality in order to avoid adverse impact."

It must be noted that BYD has previously planned far planning bigger than what they can actually deliver, Han says.

Billionaire BYD founder and Chairman Wang Chuanfu completed a three-year reorganization last year, during which he cut the number of dealerships and narrowed losses at its solar business thanks to state incentives. Investors have been receptive to BYD's turnaround. Focusing on electric cars, BYD saw its shares surge 63 percent to HK $38 in Hong Kong trading last year.

BYD is already in the U.S. vehicle market as it sells electric buses to fleet operators, instead of cars to consumers. The company is preparing to begin U.S. production of electric buses in March at its factory in Lancaster, California.

 "Back then, we had passion, but we had no brand, no history, no capital and no competitive advantage," Li says. "BYD has become more fashionable and we have improved our design and safety. We don't want to compete on price anymore, but on quality and innovation."

It must be noted that BYD isn't the only Chinese automaker pursuing the American consumer. Geely, whose parent owns Volvo Cars, plans to export cars developed with the Swedish brand to the U.S. in 2016.

BYD plans to open a factory in Sao Paolo, Brazil during the soccer World Cup that starts in June to assemble its K9 electric buses, Li said.

Pope Francis calls for your 'prayer and action'...

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for May 2015
Universal:
That, rejecting the culture of indifference, we may care for our neighbours who suffer, especially the sick and the poor.
Evangelization: That Mary's intercession may help Christians in secularized cultures be ready to proclaim Jesus.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Business & Economics

Aging global population threatens to send world debt OUT OF CONTROL, Goldman Sachs warns Watch

Image of Part and parcel of Japan's economic crisis is the rise of male

By Catholic Online (NEWS CONSORTIUM)

The global economy is going to need a new business model - and fast. According to international financial adviser Goldman Sachs, the world's growing aging population - coupled with the reduction of young workers, the world is drowning in debt that it will be ... continue reading


Los Angeles boosts minimum wage to $15.34 an hour, largest U.S. city to do so Watch

Image of Significantly, the bill in its current form includes tipped workers. This means that tips would not count towards the proposed minimum-wage base pay of $15.

By Catholic Online (NEWS CONSORTIUM)

The minimum wage for the city of Los Angeles will be $15.34 by the year 2020 - until then, wages will increase incrementally each year. The vote is being hailed as "the most significant victory so far" in the push to increase the minimum wage nationally. LOS ... continue reading


Another attack on 'In God We Trust': Atheists take a stab at U.S. currency motto Watch

Image of The United States currency's motto is 'In God We Trust.'

By Atarah Haely (NEWS CONSORTIUM)

After a series of unsuccessful legal battles against the religious quote on U.S. currency, a popular atheist activist claims to have found a new and more effective way attack the country's beloved "In God We Trust." MUNTINLUPA, PHILIPPINES (Catholic Online) - Michael ... continue reading


Verizon to buy AOL in $4.4 billion deal Watch

Image of Verizon says the deal will shore up its wireless and over-the-top or OTT video strategies.

By Catholic Online (NEWS CONSORTIUM)

In a deal valued at approximately $4.4 billion, telecoms giant Verizon will acquire digital conglomerate American Online, or AOL. Verizon announced this week it would acquire digital conglomerate AOL, intended to bolster the telecommunications giant's efforts ... continue reading


Five American tech companies have $430 BILLION in which to play Watch

Image of While other companies cry

By Catholic Online (NEWS CONSORTIUM)

While other companies cry "poor mouth" or say they have little at their disposal, at least five American tech companies are sitting on an overwhelming $430 BILLION in cash. There should be no surprise that Apple leads the list by a wide margin. LOS ANGELES, CA ... continue reading


New York Times reports substantial loss in spite of digital growth Watch

Image of There has been a move to make the newspaper more attractive to readers. The newspaper's cooking product, a hub for recipes and food-related content, has been free since its introduction.

By Catholic Online (NEWS CONSORTIUM)

In just one of growing death knells of the daily print newspaper, the iconic New York Times reported a hefty $15 million loss for the first quarter of 2015. Digital subscriptions continue to show solid growth. Digital advertising grew at a double-digit pace. ... continue reading


Shakeup at Walt Disney Parks -- information technology employees replaced by non-immigrant workers Watch

Image of Both Disneyland and Walt Disney World certainly were not the happiest places on Earth for many employees at the beginning of this year.

By Catholic Online (NEWS CONSORTIUM)

Both Disneyland and Walt Disney World certainly were not the happiest places on Earth for many employees at the beginning of this year. Multiple layoffs went around to many several information technology employees and were told their final day would be January ... continue reading


Apple can't seem to spend money fast enough as profits soar and cash reaches a staggering $194 billion Watch

Image of At Apple - the company can't seem to spend money fast enough.

By Catholic Online (NEWS CONSORTIUM)

Digital gadget maker Apple has ended the first calendar quarter with $33 billion in cash and short-term investments and $160.4 billion in long-term investments. Apple currently has $194 billion in cash and investments, more than any other non-financial company ... continue reading


Meet the billionaires who pledged to give up their fortunes to change the world Watch

Image of

By Talia Ramos (NEWS CONSORTIUM)

Through the "Giving Pledge," men and women belonging to the upper crust of the society, with billions of dollars in their name, commit to donating a large chunk of their fortune, whether through their lifetime or through their will. Coming from the majority of their ... continue reading


World's discarded electronic junk building up into massive toxic dump Watch

Image of Less than 16 percent of global e-waste is being diverted from landfill into recycling and reuse.

By Catholic Online (NEWS CONSORTIUM)

Television sets, washers and driers, stereos - broken, discarded, and then thrown away, are creating a massively toxic waste dump of gargantuan proportions. The irony in all this "e-waste" is the fact that precious metals such as gold and silver are also thrown ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Sirach 36:5-6, 10-17
5 Send new portents, do fresh wonders, win glory for ... Read More

Psalm, Psalms 79:8, 9, 11, 13
8 Do not count against us the guilt of former ... Read More

Gospel, Mark 10:32-45
32 They were on the road, going up to Jerusalem; ... Read More

Saint of the Day

Saint of the Day for May 27th, 2015 Image

St. Augustine of Canterbury
May 27: At the end of the sixth century anyone would have said that ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter