BYD’s sales grew as the Chinese market soared. Warren E. Buffett bought a nearly 10 percent stake for $230 million in 2008, giving BYD not just a cash infusion but also global cachet. “They were the laughingstock of the industry,” said Michael Dunne, a China auto industry analyst. Nobody is laughing at BYD now.
Based in Shenzhen, the hub of China’s electronics industry, BYD has shown how Chinese carmakers can tap the country’s dominance of electrical products. China has built enough factories to make more than twice as many cars as its market can buy.
Read the article.
