BYD Co., the carmaker partly owned by Warren Buffett's Berkshire Hathaway Inc., began selling its all-electric E6 to individuals in China today as it seeks to lead the country's market for alternative-energy cars.
The E6, which has a range of 300 kilometers (188 miles) per charge, has a sticker price of 369,800 yuan ($58,200), BYD said today in Shenzhen, where it is based. Buyers in the southern Chinese city will qualify for as much as 120,000 yuan in subsidies, according to Li Ganming, a deputy director of the National Development and Reform Commission's Shenzhen branch.
“The E6's business success will hinge on the availability of infrastructure and continuous improvements such as reducing weight of the battery,” said John Zeng, a Shanghai-based analyst at J.D. Power & Associates.
BYD has plunged 62 percent in Hong Kong trading this year after vehicle sales fell 15 percent in the first nine months as the popularity of its F3 sedan waned with the phasing out of government buying incentives. The company is banking on success in selling electric cars to revive sales as China, the world's largest polluter, encourages development of alternative-energy automobiles to reduce emissions and fuel imports.
