China’s BYD Plans to Debut EVs in U.S. by Late 2015

BYD Co., which introduced its first electric car the e6 midsize crossover in China slightly more than two years ago, tells Bloomberg News it will debut several models in the U.S. about two years from now.

The carmaker is partly owned by Warren Buffett's MidAmerican Energy Holdings Co. The company introduced its first EV, the e6 crossover, in China in 2010. The car debuted there a year later than scheduled, and plans to bring it to the U.S. in were repeatedly delayed and finally abandoned.

Stella Li, who heads BYD's U.S. operation, concedes the company's enthusiasm was offset by a lack of capital, brand recognition or compelling product. Since then, the company has restructured and improved its products. Now, Li says, BYD will compete in terms of quality and innovation rather than low price.

The company's U.S. lineup will probably be capped by the $31,400 Qin plug-in hybrid sedan. BYD began selling the compact car in Beijing and Puerto Rico in December. The car can zip from zero to 62 mph in 5.9 seconds and travel about 40 miles in electric-only mode, according to the company.

BYD did not tell Bloomberg how it intends to market its cars in the U.S. The company already sells electric buses to American fleet operators and expects to begin assembling the vehicles locally in California in March.