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China's electric carmakers increasing production
Source :bigpondnews.com update : 2009-08-03
The Chinese government's push for environmentally friendly transport has led to electric carmakers increasing their production levels to record high levels.
Battery producer and aspiring car maker BYD is aiming for around 700,000 vehicle sales in 2010, four times the amount of its 2008 level.
Warren Buffett's Berkshire Hathaway invested heavily in the sector last September with a 10 percent stake in BYD.
BYD Auto General Manager Henry Li says that he expects sales will more than double this year.
'We have to make good products, reliable products.
Those are things that can convince the end users to recognise the brand,' Mr Li says.
'Pricing at the beginning will be relatively high than conventional gasoline vehicles. But in general we believe our competitiveness and Research and Design and manufacturing will bring us advantages in our price and our cost in the market.'
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