BYD targeting for 20% of Chinese EV market

morningwhistle.21cbh.com - BYD Co. expects to account for more than one of every five sales of Chinese alternative-energy vehicles around the world, Chairman Wang Chuanfu told journalists this week in Beijing, where BYD launched the improved version of its F3 compact car.

Wang said he believes exports of BYD's alternative-energy vehicles will start to increase in late 2013.

BYD, partly owned by U.S. billionaire Warren Buffett, is headquartered in the south China city of Shenzhen.

The company produces the K9 electric bus, the e6 electric car and the F3DM plug-in hybrid.

In the first seven months of this year, the company sold 231,209 gasoline vehicles. But sales of its alternative-energy vehicles have been limited. Only 693 units of the e6 electric car were sold during the period, according to LMC Automotive. Meanwhile, no F3DM plug-ins have been sold this year and sales of the K9 electric bus were not disclosed.

Outside China, BYD's K9 electric bus is undergoing road tests in Germany, Spain, the Netherlands, Finland, Chile and Peru for road tests. Last month, it contracted to supply 500 units of the electric bus to Uruguay by 2015.

BYD has also sent its e6 electric car to Spain and California of the United States for road tests.