Chinese carmaker BYD is hopeful its exports can recover by the second half of 2009, after a decline of more than 70 percent in the first quarter due to the economic recession.
Build Your Dreams' general manager, Henry Li told Bloomberg today during the Shanghai auto show that the company will begin selling its vehicles in the U.S. market in 2011 starting with large models such as the all electric E6 model.
Li revealed that BYD's strategy to stave off an economic slump involves its alternative-energy vehicles. The company was the first company to produce plug-in hybrids in large quantities.
The company recently garnered attention in the U.S. after investor Warren Buffett purchased a ten percent stake. BYD is expected to compete with the world's largest automakers in the all-electric vehicle market.