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Buffett-Backed BYD Says Chinese Cars to Debut in U.S. – Businessweek

BYD Co., the Chinese automaker backed by Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) , said Chinese cars are poised to begin hitting U.S. showrooms by next year.
BYD plans to introduce about four models for its U.S. debut at the end of 2015, said Stella Li, the senior vice president in charge of the company’s U.S. business, in an interview last week in Shenzhen, China. Though BYD wasn’t ready when it earlier sought to enter the U.S. car market in 2010, the company is more prepared this time, she said.
BYD’s ambitions, echoed by companies from Geely Automobile Holdings Ltd. (175) to Great Wall Motor Co. (2333), show how the Chinese are seeking to shake up the U.S. car market as the Japanese and South Koreans did decades earlier. Geely and Chery Automobile Co. have made such predictions as far back as 2005, though they’ve yet to sell their first car in America.
“Entering the U.S. market carries more symbolic meaning to brand building than actually boosting its bottom line,” said Han Weiqi, an analyst with CSC International Holdings Ltd. in Shanghai. “They really need to make sure cars they deliver there have sound quality in order to avoid adverse impact.”
Still, BYD has a track record of planning bigger than what they can actually deliver, Han said.
More http://mobile.businessweek.com/news/2014-01-06/buffett-backed-byd-says-chinese-cars-headed-for-u-dot-s-dot-in-2015

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