BYD Auto Co. launched its first plug-in hybrid, the F3DM sedan, for the China market last week. President Wang Chuanfu discussed his company's plans for China, the United States and Europe with Kevin Huang of Automotive News China in Shenzhen during the ceremony.
What new models will BYD launch in 2009?
We have at least four new models coming out next year, including the F6DM plug-in hybrid, E6 seven-seat pure electric van, F8 conventional gasoline roadster and M6 van. The E6 may be used as taxis in Shenzhen.
How are your plans for selling new-energy cars in U.S. and European markets?
First we have to discuss with the relevant government departments of the two markets to find out all the standards. We still need at least two years to get these standards and to pass them. I think our products will start volume sales in U.S. and European markets in 2011.
Why are incentives for new energy cars still absent in China?
The precondition for the central government to give incentives on new energy cars is that Chinese domestic automakers have products of this kind. Surely the central government would not be active in providing the incentives because only the global automakers' joint ventures here had the products.
Can you forecast passenger vehicle sales in the China market for 2009?
It depends. If the central government brings out policies to save the market, such as lifting the vehicle purchase tax for small cars with engine displacements less than 1.6 liters, the market is likely to grow by 5 to 10 percent year on year. If there is no such encouraging policies, that would be quite challenging.
Will BYD face financial strain for developing vehicles so rapidly?
We won't have the problem. The investment from Mr. [Warren] Buffett, 1.8 billion HK dollars ($230 million), will be in place in late January or early February next year. The money is enough for us to spend for a while.
Will BYD recruit more engineers with working experience overseas? Many Chinese engineers working for global automakers may want to come back to China.
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