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China's BYD Looks to Triple Sales of Electric Vehicles

(Wall Street Journal)

BYD Co is taking a fresh look at its green-car strategy, betting that the wider adoption of its electric vehicles for public transportation will boost sales significantly.

The Shenzhen-based company, which has struggled for years to develop its green-cars business, aims to more than triple its electric-vehicle sales this year to 8,000 units, including 2,000 buses, with the bulk of the cars targeted at the taxicab industry. BYD., Warren Buffett's highest-profile investment in China, sold just 1,700 electric cars and 700 electric buses last year.

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