BYD in talks to sell electric car batteries overseas

Chinese automaker BYD, which stole a march on the world with the launch of a plug-in car in December, may supply batteries to car companies in Europe and the US, the Wall Street Journal reported. BYD Chairman Wang Chuanfu confirmed that negotiations are underway with one US and two European auto companies about supplying lithium-ion batteries. He did not identify the companies by name. The batteries in question are the same ones used in BYD’s F3DM sedan, a plug-in hybrid that is currently only being sold to fleet customers such as state-owned enterprises and government agencies. Shenzhen-based BYD plans to start selling the F3DM to consumers in June. Wang said the company’s low production costs – due to a combination of technology and cheap labor – are a significant competitive advantage. Warren Buffett invested US$230 million in BYD last year.