BYD announces US market expansion

  It has been a long time coming: but after years of hype, Chinese electric car maker BYD is finally set to expand into the US market.

  According to the company, its vehicles will reach US showrooms by the end of 2015 with senior vice president Stella Li announcing that the company is much more prepared for success than when it attempted to break into the market back in 2010.

BYD announces US market expansion

  The second attempt to conquer the USA comes after billionaire founder Wang Chuanfu carried out a three-year reorganisation of the company in 2013: cutting its dealerships and narrowing losses in its solar business.

  Since then, investors have been pleased with the turnaround: shares having surged by 63 per cent during trading last year even though profits dropped by 97 per cent due to losses associated with its photovoltaic business.

  Technically speaking, it could be argued that BYD is already in the US market because it sells electric cars to fleet operators. Indeed it will begin US electric bus production in Lancaster, California, from March. However, its attempt to sell its electric cars to customers fell through in 2010 when it originally attempted to launch the e6 electric car in the market.

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