BYD Chairman Still Dreaming to Become World's No. 1 Carmaker

There is no doubt that the Chinese market is growing and, alongside the whole sector, the local manufacturers are becoming more important players for the global industry. The top Chinese carmakers have already announced their plans to expand operations in both the US and Europe, with some of them even making the first steps in this direction.

But what sets BYD apart from the rest of the Chinese auto sector is the long-term expectations. While most companies are hoping to increase sales as much as possible, BYD aims to become world's number 1 carmaker by 2015 and the largest company of its kind in China by 2015.

Obviously, this might bring a smile on your face when hearing that BYD only sold 400,000 units in 2009 but chairman Wang Chuanfu really thinks that such a thing is possible.

If you didn't know, US billionaire investor Warren Buffett is also involved in BYD's financial backing after he purchased a 10 percent stake in the Chinese company. Curiously or not, Buffet also believes that BYD has what it needs to take the leading position in the Chinese market.

"BYD has a shot at becoming the world's largest automaker, primarily by selling electric cars, as well as a leader in the fast-growing solar power industry," he told the Fortune magazine according to China Daily.

Currently, BYD (which actually standard for "Build Your Dreams") is looking into ways to double its sales this year, meaning that it would have to deliver around 800,000 units in the next 12 months, up from 400,000 units in 2009.