BYD Qin announced

BYD has recently announced plans to introduce the Qin at the 2012 Beijing Motor Show.

According to the Chinese carmaker, the model is actually the replacement for the F3DM and is believed to be headed for production in 2013. It features an aggressive front bumper, LED-infused headlights and uniquely-shaped taillights.

Power will come from a hybrid-electric powertrain which uses a 1.5-liter petrol engine, an electric motor and a 16 kWh battery. This allows the sedan to accelerate from 0-100 km/h in 6.9 seconds and can travel 50 km on electricity alone. The car has a fuel consumption of only 2-liter per 100 km, but it is still a concept.

Full details of the BYD Qin will be announced on April 23 in China.

Read More

BYD to build electric vehicle plant in Argentina

BYD, China's largest automobile manufacturer, has inked a cooperative agreement with the Argentinean government to produce electric vehicles for public transportation in this country.

The Ministry of Economy and Production of Argentina said that the country is expected to become a platform for BYD to export electric vehicles to Latin America, Mexico and rest of the world.

Last week, BYD set up headquarters in New York for its market expansion in North American, becoming the first Chinese auto maker with a local branch in the continent. Here, BYD has signed an agreement with local auto leasing firm Hertz, will focus on the manufacturing of e-buses and e-taxies in the U.S.

In the first three quarters of this year, BYD have sold 326,379 vehicles reflecting a profit diminished with 85.5%, reaching 352.7 million yuan ($55.5 million), but its net profit for the third quarter grew with 582% to 77.37 million yuan ($12.23 million).

Read More

BYD sells $938.8 million in bonds to Repay Loans

Chinese carmaker BYD said it plans to sell up to 6 billion yuan ($938.8 million) in bonds to repay loans and boost its coffers.

The announcement comes after BYD reported this week that first-half net profit slumped 89% over the same period last year.

The proceeds "will provide the company with a source of medium and long-term" funding and will be used to "repay bank loans and supplement the company's working capital," BYD said.

Currently, BYD was listed on the Hong Kong stock market, began as a manufacturer of rechargeable lithium-ion and nickel batteries, and drew international attention when Buffett bought a 9.89% stake in it for $230 million in 2008.

Since then, the company has begun the production of clean-energy vehicles.

Read More

BYD F3DM US pricing announced

BYD has announced the F3DM plug-in hybrid will stat at $28,800 in the U.S.

According to Michael Austin, vice president in charge of marketing and PR, totaling 10 cars (F3DM) was put into trial operation in Los Angeles in December 2010.

The BYD F3DM is hybrid plug-in sedan compact with electric engine. It can run long distances 64-97 km and will run 480 km extra if using gasoline engine.

Read More