BYD plug-in success in the US seems far-fetched today
When Warren Buffett made a major investment in BYD Automotive several years ago, it seemed the future of plug-in vehicles, particularly Chinese plug-in vehicles, was clearly secure. The oracle of Omaha had spoken.
But, based on reports coming out of China, Buffett might have to think
AutoObserver is claiming that as many as 1800 of BYD Automotive’s 2600 employees could soon be either fired or laid off. For now, however, BYD is officially denying the report. Instead, BYD is only reporting that a restructuring is in the works. Regardless, it’s clear that BYD sales are sputtering badly.
And, with the US government convinced that BYD is stealing secrets from other automakers, for instance, any hope of BYD cars finding success in markets like the US seems slim.
One can probably expect that the Chinese government will keep BYD in the automotive game, but a pin has been poked into dreaming BYD. Reality just isn’t on the same page.