As early as July 2009, the Hong Kong-listed company announced that it was working on its application for the A-share listing, in line with related requirements of the China Securities Regulatory Commission (CSRC). Once approved, the company will go public on the Shenzhen Stock Exchange (SZSE) and issue not more than 100 million A shares.
BYD plans to inject the proceeds from the issuance into the lithium ion battery production, the auto R&D, the auto products expansion, and the auto parts and solar cell projects.
Notably, BYD Auto, the auto arm of BYD, has paid much attention to new energy vehicles. In 2009, the auto arm started the internal testing of a new model coded C6, and will turn out the sample in the first quarter of 2010, told the sources.
After six-month testing in small amount, the mass production of the model will be kicked off, which will mark the entry of BYD Auto into the mini bus market.
For the moment, BYD Auto is capable of making a mini vehicle with the same quality as the Wuling Rongguang, a high-grade mini vehicle model by SAIC-GM-Wuling Automobile Co., Ltd., said analysts. However, the key point is the price of the new model, for prices will mean a lot for mini bus buyers, they added.
When Warren Buffet opens his wallet, people notice. The Oracle of Omaha spent $230 million to acquire a 10 percent stake in China’s BYD Auto Group in 2009. BYD makes about 80 percent of Motorola’s RAZR handsets, as well as batteries for iPods and iPhones and low-cost computers.
In December 2008, BYD Auto began selling the world’s first mass-produced plug-in hybrid vehicle, and plans to mass produce affordable electric vehicles worldwide over the next few years. And Buffet is betting BYD has a shot at becoming the world’s largest automaker, primarily by selling electric cars
Two of the biggest trends in the 2010s will be the rise of China’s auto industry and the emergence of plug-in cars—so expect the electric cars and plug-in hybrids from China’s BYD Auto to garner a lot of attention.
On December 9, 2009, BYD Auto said that it reached the full-year sales goal of 400,000, nearly one month ahead of schedule. In November alone, it sold 31,986 F3 cars, compared with the earlier monthly record of 30,008 in October 2009. Particularly, the model became the first Chinese car model with a monthly sales volume of over 30,000.
By then, the accumulative sales volume of the F3, including the F3R, had reached 255,000. The automaker will strive to sell 800,000 vehicles in 2010, marking another surge of 100 percent, according to its announcement.
BYD will return to Detroit this year to show its e6 all-electric car and the F3DM plug-in hybrid sedan. According to BYD, the e6 can accelerate from zero to 60 in 8 seconds, has a top speed of 100 mph, and can travel a surprising 250 miles on a single charge. The F3DM can go about 60 miles using only batteries.
BYD Auto will also release five new models priced at over CNY 80,000 each. For the sales goal, it will bring the L3, the I6, the G6, the S6, and the M6 to the market. Their prices will range from CNY 100,000 to CNY 200,000, and their sales volumes are predicted to reach 170,000.