BYD has really optimistic plans when it comes to the EV and hybrid sectors and the company is already discussing with several foreign automakers on a number of deals that could help it expand its coverage in overseas market. The first step was already made in May when BYD joined forces with Volkswagen for the development of hybrid and electric vehicles powered by its very own lithium ion batteries.
"We are in talks with a number of foreign companies. We will supply the partner with our battery products in the cooperation, but we are not selling the technology," Henry Z. Li, general manager of BYD Auto's export division, said in April.
"Electric vehicles are an opportunity. The issue is how we can seize the opportunity and bring our advantage into play. New energy vehicles will gain a bigger market share and we are riding the trend... I believe we will be able to make the division break even within five years," Li added.
Batteries produced by BYD are said to last for more than 600,000 km and can be recharged for more than 2,000 times, according to gasgoo.com. The company also developed a plug-in hybrid codenamed F3DM, which was launched last December and is expected to arrive in the United States sometimes in 2011.