Chinese and U.S. EV Makers Face Good News and Challenges

EVSymbolIn recent months, several China-based electric vehicle makers have been making headlines with announcements of new EV contracts in the U.S. market, while several U.S. EV makers, based in California, have been facing new challenges.

Additionally, in May, Tesla Motors made an offer to raise capital and also paid off its government loan, while Fisker Automotive may have another chance to survive with news of a possible purchase bid from several suitors.

Meanwhile, Chinese vehicle maker BYD Automotive Co., which boasts Warren Buffet as a major investor, recently signed a contract in the United States with the city of Long Beach in California to build 10 electric buses at a former RV facility in nearby Lancaster, CA. This arrangement allows BYD (Build Your Dreams) to take advantage of buy-American subsidies for electric vehicles and public transportation. BYD reportedly has made 1,000 electric buses, most of which operate in China, and has completed a pilot program with Hertz, according to the company. Continue reading ›