The announcement that BYD, the Chinese battery giant turned automaker, has actually begun selling its plug-in hybrid, is pretty big news.
Shares rose about 15% on the Hong Kong stock exchange Monday. Earlier this year Warren Buffet invested over $200 million in the company (10% share). As most automakers plan for lower sales in 2009, BYD plans to double its sales to 350,000 units, including 10,000 plug-in hybrids. BYD intends to have cars on the road in the US within two years. Including an all-electric car.
As the automakers attempt to negotiate the uncertainties of the current economic environment, could it be the Chinese who bring plug-ins to the masses?