Photo: BYD
This year has been particularly tough for Chinese carmaker and battery manufacturer BYD. After the sharp increase in sales, registered in 2009 and 2010, when their sales numbers increased very rapidly, now they are experiencing a severe drop in their profits.
The company has reported a 94% fall in its profits, for the first six months of the year, when compared to the same numbers of 2011, and while the number may decrease by the end of the year, an overall loss of between 75% and 95% is to be expected. A company official was quoted as saying "Our business is fairly directly affected by the changing economic situation at home and abroad [. . .] The future downward pressure on the global and Chinese economies may affect demand for our core businesses in key markets, and would affect our performance to a certain extent."(
However, if they managed to hit it big with EVs, into which they are sinking a lot of money (they are the world leader on all-electric city buses, after all), then maybe the downward trend of the Chinese and world economies will be offset by the ever-increasing demand for affordable and decently-performing emissions-free EVs.
However, if they managed to hit it big with EVs, into which they are sinking a lot of money (they are the world leader on all-electric city buses, after all), then maybe the downward trend of the Chinese and world economies will be offset by the ever-increasing demand for affordable and decently-performing emissions-free EVs.
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